Lantern Theater Company
Romeo and Juliet (2012)
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IRA Charitable Giving

The IRA Charitable Rollover provision allows individuals who have reached age 70 1/2 to donate up to $100,000 annually to charitable organizations directly from their Individual Retirement Accounts (IRA), without treating the distribution as taxable income.

How you can use the IRA Charitable Rollover provision to support the Lantern:
Simply contact your IRA trustee (typically a bank or brokerage firm) to complete the required forms. Your trustee will need only the name and address of the non-profit organization, which must be tax-exempt under section 501(c)(3) of the Internal Revenue Code. Lantern Theater Company is a 501(c)(3) non-profit organization; our federal tax ID number is 23-2798692.

To give to the Lantern, here is the information you will need to provide to your IRA trustee:

Lantern Theater Company
1015 Chestnut Street, Suite 1515
Philadelphia, PA 19107

Background and Public Policy Purpose
The IRA Rollover was first enacted in 2006 as part of the Pension Protection Act. Since December 2015 the IRA charitable rollover provision has been made permanent by an Act of Congress.

The provision allows individuals aged 70 1/2 and older to donate up to $100,000 annually from their IRAs to public charities without having to count the distributions as taxable income. Individuals may begin taking distributions from their IRAs as early as age 59 1/2, but are required to begin taking them at age 70 1/2. Normally, IRA distributions are subject to income taxes. Now, under the charitable rollover provision, up to $100,000 of distributions made directly to charities may count towards your required minimum distribution (RMD); this is a unique and valuable characteristic of the provision. Your gift must be mailed by December 31 to count for the current tax year.

Since the provision was first enacted, Americans have donated millions of dollars of new contributions to non-profits like the Lantern to pursue their missions for the public good.

The provision mandates the following:

  • Eligibility Age: Taxpayers age 70 1/2 and older are required to make annual distributions from their IRAs which are then included in the taxpayers' adjusted gross income (AGI) and subject to taxes. The IRA Charitable Rollover permits those taxpayers to make donations directly to charitable organizations from their IRAs without counting them as part of their AGI and, consequently, without paying taxes on them.

  • Annual Cap: A donor's total combined charitable IRA rollover contributions cannot exceed $100,000 in any one year.

  • Eligible Charities: Charitable contributions from an IRA must go directly to a public charity that is not a supporting organization. Contributions to donor-advised funds and private foundations, except in narrow circumstances, do not qualify for tax-free IRA rollover contributions.

  • Eligible Retirement Accounts: Distributions can only be made from traditional IRAs or Roth IRAs. Charitable donations from 403(b) plans, 401(k) plans, pension plans, and other retirement plans are ineligible for the tax-free treatment.

  • Directly to the Charity: Distributions must be made directly from the IRA trustee payable to the public charity.

  • No Gifts in Return: Donors may not receive any goods or services in return for charitable IRA rollover contributions in order to qualify for tax-free treatment.

  • Written Receipt: In order to benefit from the tax-free treatment, donors must obtain written substantiation of each IRA rollover contribution from each recipient charity.
Every dollar makes a big difference. Join us!

Questions? Please contact Stacy Maria Dutton, Executive Director, at or 215.829.9002 x101. Thank you for supporting the Lantern!

GuideStar Exchange Silver Participant Lantern Theater Company is a 501(c)3 non-profit organization. Our Federal Tax ID number is 23-2798692. Donations to Lantern Theater Company are tax-deductible to the fullest extent allowed by law. The official registration and financial information of Lantern Theater Company may be obtained from the Pennsylvania Department of State by calling toll free, within Pennsylvania, 1-800-732-0999. Registration does not imply endorsement.

Pictured: Sean Lally and Nicole Erb in Romeo and Juliet (2012). Photo: Mark Garvin.
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Header Photo: Paul L. Nolan, Sally Mercer, and Charles McMahon in Copenhagen (2018); Charlie DelMarcelle, Anthony Lawton, Jered McLenigan, and Brian Anthony Wilson in The Resistible Rise of Arturo Ui (2019); Anthony Lawton and Paul L. Nolan in The Craftsman (2017); and Bi Jean Ngo and Peter DeLaurier in The Tempest (2018). Photos by Mark Garvin.

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