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Qualified Charitable Distributions from your IRA

A Special Opportunity for Those 70 1/2 years and older

A Qualified Charitable Distribution (QCD) is a tax-efficient way for individuals who are age 70 ½ or older to make gifts directly from their Individual Retirement Account (IRA). QCDs can count towards satisfying an individual’s Required Minimum Distribution (RMD) for the year, which is the minimum amount that an individual must withdraw from their IRA each year once they reach age 73.

 

Who it’s for

• Individuals 70 ½ or older

• Those who have an Individual Retirement Account (IRA) that is a traditional IRA, not a Roth IRA

• Those who want to make a charitable gift that counts towards their Required Minimum Distribution

• Those who want to reduce their taxable income

Benefits

• Reduce taxable income

• Counts towards your Required Minimum Distribution for the year

• Make an immediate impact on our mission

How it works

1. Instruct your IRA custodian to distribute up to $105,000 directly to one or more eligible charities.

2. The QCD counts towards your Required Minimum Distribution.

3. The QCD is not included in your taxable income, which can reduce your overall tax liability. You will not receive a charitable income tax deduction for the QCD.

If you wish to make a Qualified Charitable Distribution, contact your IRA custodian to get started.

Before proceeding, please consult with your tax advisor to discuss your situation, including any impact of your state’s tax laws.

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