The Flying Tiger Line Historical Society (FTLHS) is registered in the State of California as a public charity eligible to receive tax deductible contributions, bequests, devises, transfers or gifts under Internal Revenue Code Section 501(c) 3.
Owners of Individual Retirement Arrangements (IRAs) required to withdraw Required Minimum Distributions (RMDs) may be able to transfer any amount up to $100,000 to the Flying Tiger Line Historical Society tax-free each year. These transfers, known as Qualified Charitable Distributions (QCDs), offer eligible older Americans a great way to easily make their donations each year and have them count toward the IRA owner’s required minimum distribution (RMD) for the year. An owner who wishes to make a QCD should contract their financial planner or IRA trustee well before the end of the year to compete the transaction by December 31st.
Normally, distributions from a traditional IRA are taxable when received. With a QCD, however, these distributions become tax-free as long as they’re paid directly from the IRA to the Flying Tiger Line Historical Society. An IRA distribution, such as an electronic payment made directly to the IRA owner, does not count as a QCD. Likewise, a check made payable to the IRA owner is not a QCD. The donation must come directly from the financial institution to FTLHS.
For more information about Qualified Charitable Distributions see Publication 590-B, Distributions from Individual Retirement Arrangements
The FTLHS is a non-profit 501(c)3 organization. All donations are tax deductible, and no goods or services were received in exchange for this donation. An acknowledgement for your tax records will be mailed to you upon receipt of your donation.
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