Make a Donation

Contact your financial advisor or the firm holding your IRA or Beneficiary Inherited IRA to request a Qualified Charitable Distribution (QCD). IRA account holders aged 70½ and older may take tax-free distributions from a Traditional or Beneficiary IRA and donate the amount distributed to an eligible tax- exempt charitable organization. (You may take a QCD from a Roth IRA; however, since these distributions are generally tax-free, the same tax benefits will not accrue. A different means of contributing these monies may be more advantageous to you.)

The Regent Theater is a 501(c)(3) organization qualified to receive these contributions under IRS code. Please ensure that your check payable directly to The Regent Theater. You may not take receipt of these funds and then issue a personal check for your contribution and qualify for the special tax considerations of the QCD.

The QCD amount can represent all or a portion of your Required Minimum Distribution (RMD) for the tax year; or more, should that make sense from a tax and estate planning perspective. The total of all QCDs for a single tax year cannot exceed $100,000 per individual taxpayer. The QCD will be reported by the firm holding your IRA to you and the IRS on Form 1099-R as a normal distribution (Code 7) based on your age. You must document this tax-free qualification to the IRS on your Federal income tax return (Form 1040). Please visit the IRS website, or contact a professional tax advisor for more information. The Hiway Theater will provide you with a letter confirming your contribution, this should be retained with your tax records.