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Qualified Charitable Contributions (QCDs)

Qualified Charitable Distributions (QCDs) allow individuals aged 70½ or older to make tax-free charitable donations directly from their Individual Retirement Account (IRA) to a qualified charity, offering unique financial and philanthropic benefits. Here’s how QCDs work and the advantages they provide for both the donor and for FOCUS: 

How QCDs Work

  1. Eligibility: To make a QCD, the IRA account holder must be at least 70½ years old at the time of the distribution.
  2. Direct Transfer: The distribution must go directly from the IRA to a qualified 501(c)(3) charitable organization. This means that funds cannot be withdrawn by the individual first and then donated; they must be transferred directly by the IRA custodian.
  3. Annual Limit: Each individual can donate up to $100,000 per year through a QCD, and for married couples filing jointly, each spouse can make their own QCD, potentially doubling the impact to $200,000 annually.
  4. Required Minimum Distributions (RMDs): At age 73, IRA owners are required to take Required Minimum Distributions (RMDs) from their accounts. QCDs count toward satisfying these RMDs without increasing taxable income.

Benefits to the Donor

  1. Tax-Free Giving: A major benefit of QCDs is that they are not included in the donor’s taxable income. By directing funds straight from an IRA to a charity, individuals can make substantial donations without paying income tax on the amount withdrawn. This is especially valuable for individuals who do not itemize deductions and thus wouldn’t otherwise receive a tax benefit from their charitable contributions.
  2. Avoiding Higher Tax Brackets: Because QCDs are excluded from taxable income, they can help individuals avoid pushing their income into a higher tax bracket. This may reduce or eliminate taxes on Social Security benefits, minimize Medicare premiums, and avoid the Medicare surtax on high incomes.
  3. RMD Fulfillment: QCDs can count toward the donor’s RMDs, offering a tax-efficient way to meet this annual requirement. This allows individuals to support charitable causes while satisfying IRS regulations in a tax-advantageous manner.
  4. Simplified Giving Process: Many donors find QCDs to be a straightforward and convenient way to give, especially if they want to make a significant impact without needing to liquidate other assets.

Benefits to FOCUS

  1. Immediate Funding: FOCUS benefits from receiving funds directly, often with fewer administrative restrictions or requirements than other types of gifts. QCDs provide immediate, unrestricted support, allowing FOCUS to allocate resources to urgent needs or ongoing programs effectively.
  2. Larger Gift Potential: By avoiding capital gains and income tax, QCDs encourage donors to give more generously to FOCUS! The tax savings enable many individuals to contribute a higher amount than they might otherwise be able to, directly benefiting the FOCUS mission and its programs.
  3. Sustained Support: Many QCD donors make annual contributions as part of their RMDs, fostering a sustained source of income for FOCUS. This ongoing support is especially valuable for the long-term projects or continuous needs of FOCUS.

If interested in making a QCD gift to FOCUS, please contact us at JavaScript required to view address
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