IRAs & Required Minimum Distributions
Starting at age 72 (70 ½ if you reach this age before January 1, 2020), the IRS requires individuals to make IRA withdrawals each year. Known as Required Minimum Distributions (RMDs), the IRS imposes a fine, equivalent to half of the RMD, for failing to withdraw minimum distributions. With this requirement, giving from an IRA has become a tax-efficient way for individuals to make charitable contributions.
A Qualified Charitable Donation (QCD) is a direct transfer of funds from an IRA custodian (e.g., Vanguard, Schwab, Fidelity, etc.) made payable to Fisher House Michigan, or another qualified charity, in the account owner’s name.
An individual may donate any amount up to $100,000 through a QCD annually. This amount applies to the sum of QCDs made to one or more charities in a calendar year. A spouse, who files jointly, may donate up to an additional $100,000 within the same tax year.
The deadline for QCDs is Dec. 31 for that calendar year. Please contact your IRA custodian for instructions.
Remind your financial institution to include your name and mailing address on the check or in an enclosed letter and clarify that the donation is a QCD.
Legal Name: Build it for the Brave DBA Fisher House Michigan
EIN Number: 81-2586691
Mailing address:
Fisher House Michigan | PO Box 130466 | Ann Arbor, MI 48113
Phone: (313) 483-6543
Email: info@fisherhousemichigan.org
Stocks & Securities
Fisher House Michigan accepts stock and other securities as charitable donations. We’re grateful for your interest in making a gift in this manner. Fisher House Michigan maintains accounts with Fidelity Investments and Commonwealth Financial Network as agents to accept stock transfers. Gifts of securities can be made through the agent you prefer:
Commonwealth Financial Network
29 Sawyer Rd. Waltham, MA 02453-3483
Local agent, Chris DeRuyver: (734) 769-1427
DTC # 0226
FBO Fisher House Michigan Account #: B8G261843
Fidelity
PO Box 770001 Cincinnati, OH 45277-0002
Brokerage Services: 800-544-6666
Fidelity DTC: 0226
FBO Fisher House Michigan Account: Z40121383