Use your IRA Distribution to Benefit the FIA

Once you reach age 70½, you are required by the IRS to take annual Required Minimum Distributions from your retirement accounts. Please consider directing your distribution to the Flint Institute of Arts. The FIA is a 501(c)(3) which qualifies you to receive tax-free IRA charitable contributions from the federal government. 

The first step is to set up a direct transfer with the broker or investment company that manages your IRA. Funds must be transferred directly from your IRA to the FIA by you (IRA trustee) in order to qualify for the tax benefit.

Remember, if you withdraw the money from your IRA and later donate it, it will not qualify as a tax-free charitable distribution. The distribution check must be payable to the FIA directly. If it is somehow sent to you by mistake, it will not qualify as a charitable distribution, so contact your broker immediately. 

All distributions must be made on or before December 31, 2018. The FIA will send you an acknowledgement of the donation for tax purposes. The FIA’s tax ID # is 38-1539984. This is an excellent way for you to make gifts and receive tax benefits in return. You may direct your funds to general operating, collections, endowment, programs, scholarships and more—just let us know. Call or email Kathryn Sharbaugh at 810.234.1695 or