IRA Qualified Charitable Distribution
A popular, tax-smart option for giving is through a qualified charitable distribution (QCD) from your Individual Retirement Account (IRA). If you are 70½ or older, an IRA charitable rollover is a way you can help continue our work while also gaining these benefits:
- Avoid 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 children around the world reach their full potential
Important notes and highlights:
- While you are eligible to make this gift starting at 70½, when you turn 72 you must take a Required Minimum Distribution (RMD) from your IRA, and a QCD will count towards that RMD.
- The distribution must be made from a traditional or Roth IRA.
- Donors must ask their plan administrator to make a direct transfer of funds to a qualified public charity. It is important not to withdraw funds before making a gift.
- Distributions made under this law can be used to satisfy the donor’s required minimum distribution (RMD). However, qualified charitable distributions are not limited to the donor’s RMD.
- Donors can choose to exclude the distribution from income on their federal tax return. If they do, they will not receive a charitable income tax deduction.
To make a gift to Global Volunteers from an IRA, contact your IRA plan administrator and request a direct qualified charitable distribution from the IRA account to Global Volunteers, a 501(c)(3) organization. Our Tax ID number is 36-3352680.
Mail the check to:
375 East Little Canada Road
St. Paul, MN 55117
Please inform us of your gift when you complete this process.
Information on this website is not intended as legal or tax advice. For information on how any gift may affect your tax situation, please consult with your professional advisor.
Questions? Please contact Angie Swanson at email@example.com or (651) 407-6112