You can use your retirement earnings to bless others and save on your taxes. When you make a Qualified Charitable Distribution (QCD) or Charitable Rollover from your IRA to The Orange Catholic Foundation, your retirement assets will change lives.
GIFTS FROM AN IRA
If you are 70 ½ or older, you can make a tax-free gift directly from your IRA account. The law allows you to transfer any amount up to $105,000 (annually) directly to a qualified charitable organization without paying income tax on the distribution. The transfer does not generate taxable income or a tax deduction, so you benefit even if you do not itemize your tax deductions. A charitable distribution also counts as part of your Required Minimum Distribution (RMD), and must be made directly through your financial advisor to the charity.
Click here to view and download IRA Qualified Charitable Distribution Instructions and Form
Please note that the OCF does not provide tax, legal or accounting advice. This material is prepared and made available for informational purposes only and is not intended to provide or be relied upon for tax, legal or accounting advice. Every donor should always consult a tax professional to determine his or her particular tax benefits and other consequences that may result from any particular type of gift to charity.