"God blessed me by putting you in my life. I will never be able to thank you enough."
As an IRS-recognized public charity, Children of the Night is also eligible to receive qualified charitable distributions from donors' individual retirement accounts ("IRAs"). Such a distribution will entitle the donor to an exclusion of gross income for income tax purposes, provided the distribution meets certain requirements. A qualified charitable distribution must be made directly by the IRA trustee to Children of the Night, and must be made on or after the date that the donor reaches age 70 ½. Qualified charitable distributions cannot typically be made from employer-sponsored retirement plans, such as SIMPLE IRAs and simplified employee pensions (SEPs). A donor may exclude up to $100,000 of gross income per taxable year by making these distributions, which are also taken into account when determining whether an IRA’s annual required minimum distributions have been satisfied.