The Giving Account
Learn about our donor-advised fund
Research & Insights
Discover the latest trends and content on giving
Expert guidance on your giving strategy
It is important to speak with your tax advisor or attorney about your personal situation. In general, during your lifetime, whenever you take money out of your tax-deferred account (IRA, 401(k), 403(b), etc.), the distribution is considered income to you and is a taxable event. Therefore, you would have to pay the taxes due upon the value of the distributed assets and the remaining money would go to the charitable organization.
There may be certain exceptions for "employer securities" (shares of an employer's stock, or "company stock") held in a 401(k) account. If you are interested in contributing this type of security and have additional questions, contact us at 800-262-6039 for assistance.