Journey of Hope Fall 2022 Journey of Hope Fall 2022 | Page 33

Frequently asked questions

How to make a gift to CAI through your IRA

1 2

3

Q : Can I just take the funds from the IRA myself and then donate that amount to CAI ?
A : How you process a QCD is very important if you want to benefit from the tax savings . If you withdraw money from your IRA yourself , or receive your RMD directly and then make a donation to CAI , the QCD will be disallowed . Funds must go directly from your IRA to the charity of your choice to qualify as a QCD .
Contact your retirement fund plan administrator and request to make a qualified charitable distribution ( QCD ) from your IRA to Central Asia Institute .
Supply your plan administrator with the requested donation amount , tell them to make it payable to Central Asia Institute , and send the check to : Central Asia Institute PO Box 7209 Bozeman , MT 59771 Central Asia Institute ’ s federal tax identification number is 51-0376237 .
Contact Sonja Bahr , CAI ’ s senior development officer , to notify us of your gift to ensure your philanthropic goals are honored . It is important to do this because many retirement administrators do not include donor information or intentions when the check is issued .
Q : How much can I give each year from my IRA ?
A : Individuals 70½ years of age or older can make QCDs up to the annual limit of $ 100,000 . This limit applies to the total distributions within a calendar year , regardless of whether the distributions are made at the same time or to one or multiple nonprofit organizations .
Q : My spouse and I would like to give more than $ 100,000 . Can we do that ?
A . If you have a spouse ( as defined by the IRS ) who is 70½ or older , they can also give any amount up to $ 100,000 from their IRA .
Q : I have more questions or would just like to talk this through . Who should I contact ?
A : We are honored to help you reach your philanthropic goals and are here to answer your questions !
For more information , please
contact Sonja Bahr , senior
development officer , at 406.585.7841
or sbahr @ centralasiainstitute . org .
Photo : Seamus Murphy
FALL 2022 JOURNEY OF HOPE | 31