Support Bike Anchorage Through Your IRA

If you are 70½ or older and have an IRA, you can support Bike Anchorage by making a tax-free donation directly from your IRA, known as a Qualified Charitable Distribution (QCD). This is a great way to fulfill your Required Minimum Distribution (RMD) while contributing to our mission of creating safer, more bike-friendly streets.

What Is a Qualified Charitable Distribution?

A QCD allows individuals aged 70½ or older to transfer up to $100,000 per year directly from their IRA to a qualified charitable organization like Bike Anchorage, tax-free. If you’re 73 or older, your QCD can count toward your RMD for the year, helping you meet your tax obligations while supporting a cause you care about.

How It Works

• Contact your IRA trustee to request a direct transfer from your IRA to Bike Anchorage. The transfer must be made directly from your IRA to our organization to qualify as a QCD.
• You can exclude up to $100,000 per year from your taxable income with a QCD. For married couples, each spouse can exclude up to $100,000 if both are 70½ or older and have IRAs, allowing for a total of $200,000 in tax-free charitable contributions annually.
• QCDs can be made whether or not you itemize deductions on your tax return, and while the donation is tax-free, it is not deductible as a charitable contribution.

Steps to Make a Qualified Charitable Distribution

1. Contact your IRA trustee or administrator to initiate a QCD.

2. Provide them with our information so the distribution can be made directly to Bike Anchorage:

   Bike Anchorage
   P.O. Box 240062
   Anchorage, AK 99524
   EIN: 94-3452069

3. Ensure your QCD is completed by December 31 to count for the current tax year.

4. Obtain a written acknowledgement from Bike Anchorage, which we will provide once your donation is received. This will serve as your receipt for tax purposes.

For more details, refer to IRS Publication 590-B and consult your financial advisor or tax professional to ensure the donation is correctly processed and reported.

By making a QCD to Bike Anchorage, you’re not only supporting safer streets and better bike infrastructure but also taking advantage of a tax-efficient way to give. Thank you for your generosity!