What is a Qualified Charitable Distribution (QCD)?
A qualified charitable distribution (QCD) is a direct contribution from an individual retirement account (IRA) to a charity or nonprofit organization. Donating part or all of your unused retirement assets – such as a gift from your IRA, 401(k), 403(b), pension or other tax-deferred plan – is one way you can make a gift to FINCA International.
For individuals over the age of 72, a qualified charitable distribution (QCD) of up to $100,000 annually can go towards their required minimum distribution (RMD) and reduce their income taxes.
Most people will probably not use all their retirement assets during their lifetime. You can make a gift of your unused retirement assets to help further our mission.
Retirement assets, such as IRAs, may be significantly taxed if left unused beyond a person’s lifetime. As a nonprofit, we are not taxed upon receiving QCDs or other retirement plan assets.
Benefits
Avoid potential estate tax on retirement assets
Your heirs would avoid income tax on any retirement assets funded on a pre-tax basis
Receive potential estate tax savings from an estate tax deduction
Avoid income taxes on transfers of up to $100,000 from your IRA to our organization
Make a gift that is not subject to the deduction limits on charitable gifts
Help further the work and mission of our organization
Our online tool makes it easy to initiate a qualified charitable distribution (QCD) from your IRA. You can either complete the paperwork online or print out the forms you need and complete your gift offline.
If you have any questions about making a qualified charitable distribution (QCD), we are happy to assist.
If you have made a gift of retirement assets or a qualified charitable distribution (QCD) to FINCA, we would like to thank and recognize you for your gift. Please contact Colleen Zakrewsky at 202-971-4627 or [email protected].