You can support the Village with a gift directly from your IRA. Instruct your IRA plan custodian to make a payment from your required minimum distribution directly to the Village, and the amount will be excluded from your taxable income. This is a tax-smart option if you intend to support the Village and don’t need all of your required minimum distribution.
- You must be at least 70-1/2 years old
- You may transfer up to $108,000 in calendar year 2025
- If both you and your spouse have IRAs, meet the age requirement, and file taxes jointly, your household can transfer up to $216,000 in calendar year 2025
- No need to itemize on tax returns for the tax benefit
Information for your IRA’s custodian:
Payee: Silver Spring Village, Inc.
Federal Tax ID/EIN #: 46-0723926
Address: 8700 Georgia Ave, Ste 306, Silver Spring, MD 20910
Phone: 240-833-5580