Charitable IRA

If you are age 70 1/2 or older, you can transfer up to $100,000 each year directly from your traditional IRA account to Sandy Spring Museum.

This smarter way to give may satisfy a portion or all of your annual required minimum distribution (RMD) and serve as a qualified charitable distribution for your IRA, which can save you on taxes even if you do not itemize! Contact your plan custodian to complete the IRA transfer.

Please request your IRA custodian directly mail the check to the following address. Sandy Spring Museum’s tax identification number (EIN) is 52-1224038.

Sandy Spring Museum
Office of Development
17901 Bentley Road
Sandy Spring, MD 20860

Essential notes on Charitable IRA Transfers (QCDs):

This particular way to give only applies to traditional or Roth IRAs. Retirement plans, such as the 401k, 403b, and others, do NOT qualify.

While The SECURE Act did change the required minimum distribution (RMD) age to 72 for those under 70 ½ as of December 31, 2019, it DOES NOT change the age eligibility for making a qualified charitable distribution (QCD) through an IRA. For those who are between 70 ½ and not yet 72, the QCD amount would not offset this year’s RMD because none are owed yet.

In 2021, IRA owners age 72 and older resumed their required minimum distribution (RMD) from IRAs. By exercising an IRA qualified charitable distribution (QCD), you may satisfy all or a portion of your RMD for the year and reduce reportable taxable income.

If your IRA custodian provides you with an IRA checkbook, please write the check to Sandy Spring Museum. Due to different IRS requirements for this type of transfer, please consider mailing your check no later than December 1 to provide adequate time for the postal service to deliver, and for us to process your generous gift.