Giving Through an IRA
Why Give Through Your IRA?
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Provide Immediate Relief – Your gift helps provide food to Alaskans experiencing hunger right now
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Satisfy Your Required Minimum Distribution (RMD) – If you're 70½ or older, a QCD can help meet your RMD while supporting a cause you care about
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Reduce Your Tax Burden – Because your IRA gift is made directly to charity, it won’t be counted as taxable income
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Help Manage Medicare and Social Security Costs – Lower taxable income may reduce Medicare premiums and the taxable portion of Social Security benefits
How to Give Through Your IRA
- Contact Your IRA Provider – Request a Qualified Charitable Distribution (QCD) to Food Bank of Alaska
- Consult Your Financial Advisor – Every situation is unique, so check with your tax or financial advisor to confirm this giving option aligns with your goals
If you’re including Food Bank of Alaska in your plans, please use the following details:
- Legal Name: Food Bank of Alaska, Inc.
- Address: 2192 Viking Dr, Anchorage, AK 99501
- Federal Tax ID: 92-0073175
Contact Us
Want to Learn More?
- Email: dbentle@foodbankofalaska.org
- Phone: 907-222-3112
YOU MAY NEED TO KNOW
Frequently Asked Questions
Who is eligible to make a Qualified Charitable Distribution (QCD)?
If you are 70½ or older, you can make a QCD directly from your IRA.
Does a QCD count toward my Required Minimum Distribution (RMD)?
Yes, if you're 73 or older, your QCD can count toward your RMD.
Is there a limit to how much I can give through a QCD?
Each eligible IRA owner can exclude up to $105,000 in QCDs from taxable income. Married couples, if both meet qualifications and have separate IRAs, can donate up to $210,000 combined. QCDs don't require itemizing deductions.
Does my IRA gift qualify for a charitable deduction?
No, you cannot claim a charitable deduction for this distribution because it is already excluded from your taxable income. However, this still provides a tax benefit, particularly for those who do not itemize deductions.
Can I make a QCD from any retirement account?
No, only traditional IRAs and inactive SEP or SIMPLE IRAs qualify. 401(k) and 403(b) funds must first be rolled over into an IRA to be eligible.
How do I ensure my gift is processed correctly?
Your IRA administrator must send the funds directly to Food Bank of Alaska. If you receive the distribution personally and then donate, it will be considered taxable income.
How can I learn more or get assistance with my IRA?
We’re happy to help! Contact Daniel Bentle at 907-222-3112 or dbentle@foodbankofalaska.org to discuss how you can use your IRA to make a lasting impact in Alaska.