A Tax Savvy Way to Support AWM
See Your Generosity in Action
AWM members who are 70½ years old or older may be able to take advantage of an easy way to benefit the Association for Women in Mathematics and receive tax benefits in return. You can give up to $100,000 from your IRA directly to a qualified charity such as ours without having to pay income taxes on the money. This federal law, passed in December 2015, no longer has an expiration date so you are free to make annual gifts to our organization this year and well into the future.
The Coronavirus Aid, Relief, and Economic Security (CARES) Act passed in March of 2020 temporarily suspends Required Minimum Distributions (RMDs) from qualified retirement plans and IRAs for the calendar year 2020 only.
On December 17, 2019 the Setting Every Community Up for Retirement Enhancement (SECURE) Act was passed by the Senate. One result of this legislation it that the act increases the age at which an individual must begin taking RMDs from 70½ to 72 beginning in 2020. The year 2020 is now a special case due to the CARES Act.
You still may make Qualified Charitable Contributions (QCDs) from your IRA when you turn 70½. Please consult your tax professional for further information.
Why Consider This Gift?
- Your gift will be put to use today, allowing you to see the difference your donation is making.
- You pay no federal or state income taxes on the gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your deductions.
- If you have not yet taken your required minimum distribution for the year, your IRA charitable rollover gift may satisfy all or part of that requirement.
A 501(c)(3) Nonprofit
The Association for Women in Mathematics is a registered 501(c)(3) organization and as such can receive a QCD. To make an IRA charitable rollover gift you must have the IRA custodian or trustee write a check to the Association for Women in Mathematics and mail to:
Association for Women in Mathematics
P.O. Box 40876
Providence, RI 02940
Contact AWM at 401-455-4042 (or firstname.lastname@example.org) with questions.
Our non-profit tax exempt status has been reinstated as of June 5, 2017. Any donations made after September 12, 2016 are retroactively tax deductible as charitable contributions for federal income tax purposes.