If you are 70 ½ years of age or older, making a gift to the AMS from your Individual Retirement Account (IRA):
- counts toward your Required Minimum Distribution
- lowers your Adjusted Gross Income and thus your other tax calculations
- is easily completed by your IRA trustee or custodian
To make a Qualified Charitable Distribution (QCD) to the American Mathematical Society, instruct your IRA trustee/custodian to make a payment or transfer to "American Mathematical Society" directly from your IRA, indicating your name and "charitable donation" on the memo line. In order to receive the tax benefits, you must not directly receive or be in possession of the distribution at any time.
Congress passed permanent allowance for IRA distribution gifts via the Consolidated Appropriations Act of 2016, on December 18, 2015.
If you would like to learn more about this giving option, email or call Douglas Allen, Director of Development at (401) 455-4126.