A Qualified Charitable Distribution (“QCD”) is a very smart way to support charitable causes. If you are over the age of 70 ½, you can direct up to $100,000 from your IRA to certain charities, including a field-of-interest, unrestricted, or scholarship fund at the Community Foundation.
If you are over the age of 72, QCDs count toward your Required Minimum Distribution (RMD) for the year. That means you avoid income tax on the distributed funds. Our team can work with you and your advisors to go over the rules for QCDs and evaluate whether the QCD is a good fit for you.