Make the most out of your IRA this year


The IRS recently changed the rules about IRA minimum distribution opportunities, allowing those who qualify to write checks directly from their IRA accounts instead of having to go through an investment advisor. Learn about additional changes for 2020 under the CARES Act. If you are thinking about making a gift the Kiwanis Children’s Fund this way, there are several things to keep in mind as 2020 comes to a close:

Mail the donation 
Kiwanis Children's Fund
P.O. Box 6457 - Dept #286
Indianapolis, IN 46206

Do not mail checks to the Kiwanis street address. Checks sent to the P.O. Box number are directly deposited into the Children’s Fund bank account.

If you are making an IRA rollover gift and are using a check from your IRA account, the check must be received by December 16 in order to ensure the contribution reduces your taxable income for 2020. This is because the gift is not considered complete until the IRA administrator transfers the funds to the Kiwanis Children’s Fund.   

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If you are 70½ years or older, you can reach more children around the world by giving to the Kiwanis Children's Fund — without incurring income taxes.

When you give up to US$100,000 from your IRA directly to a qualified charity such as the Kiwanis Children’s Fund,you pay no income taxes on the money. In fact, you can make your IRA charitable rollover gift annually — so you support the Children’s Fund now and in years to come.

Here are a few important things to know:

  • Donors age 70½ or older are eligible.
  • Tax-free IRA transfers may amount up to US$100,000 annually.
  • This opportunity applies only to IRAs. Other retirement plans are not eligible.
  • Donors may give to more than one charity through an IRA.

Note: The Kiwanis Children's Fund does not provide financial or legal advice. We recommend you consult your financial and legal advisors about your personal situation before making a gift.