Giving from an IRA

If you are 70 1/2 years old or older, you are eligible for a QCD - qualified charitable distribution - whereby you can gift any amount up to $105,000 directly from your IRA to a qualified charity. This form of charitable giving allows you to give and, if necessary, satisfy any annual required minimum distribution without incurring income tax.

Why you should consider a QCD

• If you are required to take minimum distributions on your account, this gift can satisfy some or all of that required minimum distribution.

• You pay no income taxes on the gift, and the gift does not count as income. This can help reduce the your annual income level, as well as the amount of Social Security that is subject to tax.

Rules and Details

• This type of giving is only permitted from a Traditional IRA. If you have another account that you are interested in giving from, you can consider a rollover to your IRA.

Next Steps

• If you are interested in learning more about this type of gift, please reach out to your financial advisor or IRA custodian to learn more about whether your qualify for a QCD. This type of gift must be carried out by your IRA custodian who will send the check directly to your designated charity.

• If you are interested in learning more about Chesterton Academy of our Lady of Hope and how your gift can be allocated, please contact mcasey@chestertonri.org.

Chesterton Academy of Our Lady of Hope is 501(c)(3) organization, EIN 88-1226349.