IRA QUALIFIED CHARITABLE DISTRIBUTION (QCD)
You may be looking for a way to make a big difference to help further our mission. If you are 70 ½ or older you may also be interested in a way to lower the income tax cost from your IRA withdrawals. An IRA Qualified Charitable Distribution (QCD) is a way you can help continue our work and benefit this year.
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As a result of the new tax law, more taxpayers will be taking a standard deduction and their charitable gifts will no longer be deductible. But the QCD gives a taxpayer a double advantage. You can take the higher standard deduction and then effectively add a charitable deduction on top of that, by taking your IRA distribution as a QCD, which is excluded from income.
BENEFITS OF A
QUALIFIED CHARITABLE DISTRIBUTION (QCD)
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Satisfies your "required minimum distribution" (RMD) for the year.
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Reduce your taxable income, even if you do not itemize deductions.
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Effectively turn your RMD into a charitable deduction.
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Help further the work and mission of our foundation.
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Avoid taxes by transferring up to $100,000 directly from your IRA to our Foundation.
HOW A QUALIFIED
CHARITABLE DISTRIBUTION (QCD) WORKS
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Contact your IRA plan administrator to discuss and request a QCD.
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Your IRA funds will be directly transferred to our foundation to help continue our important work.
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QCD does not increase adjusted gross income as a taxable IRA distribution does.
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Please contact us if you wish for your gift to be used for a specific purpose.
EXAMPLE: A Qualified Charitable Distribution can provide significant tax savings. If a taxpayer in the new 24% tax bracket in 2018 and makes a $10,000 gift using a QCD. If the RMD happens also to be $10,000, then none of that RMD is included in income. If the taxpayer is taking the standard deduction ($24,000 for married filing jointly) where no charitable contributions are deductible, this $10,000 QCD provides an effective tax deduction and will reduce the 2018 tax bill by $2,400.