A gift directly from your IRA to DCV is easy and tax-efficient. You can have your IRA plan custodian make a payment from your IRA directly to DCV. This is called a Qualified Charitable Distribution or an IRA Charitable Rollover.
This is a tax-smart option if you want to support DCV and don’t need all of your required minimum distribution in a year. It is also a way to use IRA funds to support DCV if you are at least 70-1/2 years old and have not started your required minimum distributions.
The transfer can be:
- Part or all of your required minimum distribution
- A contribution other than from your required minimum distribution.
Any transfer to DCV is excluded from your taxable income if you meet these requirements:
- You are at least 70-1/2 years old in the year of the transfer
- You may transfer up to $108,000 annually (this is the 2025 limit and is adjusted annually)
- If both you and your spouse have IRAs and meet the age requirement, you can each make a transfer, so your household limit is up to $216,000 annually (adjusted annually)
- You do not need to itemize deductions on your tax return to get this tax benefit
Information for your IRA’s custodian:
Payee: Dupont Circle Village, Inc.
Federal Tax ID/EIN #: 26-3702387
Address: 2121 Decatur Place, NW, Washington, DC 20008
Phone: 202-436-5252