Charitable IRA

There are tax benefits to making charitable gifts from your Individual Retirement Account (IRA). If you are 70 1/2 and older, you can make gifts up to $100,000 per year directly from your IRA to Kimochi. These distributions will not be included in your taxable income and they count towards your annual Required Minimum Distribution (RMD). To learn more about this gift option, also known as qualified charitable distribution (QCD), please click here.

Aside from immediate tax savings to making QCDs from your IRA, you may also benefit from the following. When you leave your IRA to heirs and they withdraw the funds, these assets will most of the time be taxed as ordinary income. Large retirement assets may also be subject to state and/or federal estate tax if left to someone other than a spouse. These taxes can consume a large portion of the funds remaining in your IRA. Making gifts in the form of QCDs from your IRA to tax-exempt charitable organizations like Kimochi, and leaving other assets to your heirs, may be a prudent choice.

Please contact Steve Ishii, Kimochi Executive Director, at (415) 931-2294 if you are considering a legacy gift to Kimochi.

Learn more
Bequests
Beneficiary Designations
Charitable IRA
Charitable Remainder Trusts
Kimochi Legacy Society

This information is not intended as tax or legal advice. We recommend that you consult with your legal and financial advisors to learn how a gift would work in your circumstances.

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For more information, please call us at (415) 931-2294 or email kimochikai@kimochi-inc.org.