Give From Your IRA
If you are 70.5 years of age or older, IRA gifts are a powerful way to support Union Settlement and reduce your future tax burden. If you are subject to Required Minimum Distributions (RMD), donating from your IRA allows you to meet your RMD without increasing your taxable income!
Contact your IRA custodian or financial advisor to request a Qualified Charitable Distribution (QCD).
Frequently Asked Questions
What is a QCD gift?
Qualified Charitable Distribution (QCD) allows individuals who are 70.5 years of age or older to donate to charities directly from a taxable IRA instead of taking their required minimum distributions.
They are completely tax-free and are also considered part of your Required Minimum Distribution (RMD), which must be met, or you could incur a tax penalty.
What is an RMD?
Required Minimum Distributions (RMDs) are amounts that you must withdraw annually from your Individual Retirement Accounts (IRA) once you reach 72 years of age, or you can incur a tax penalty. The RMD increases the IRA holder’s total taxable income, and the income increase could potentially push you into a higher income tax bracket.
By giving these funds directly to a charitable organization, you can fulfill your RMD without it counting toward your taxable income for the year. This type of gift can make a powerful and lasting impact on Union Settlement.
Questions About Giving From Your IRA?
Interested in supporting Union Settlement through a Qualified Charitable Distribution? Contact your IRA custodian or financial advisor to initiate your gift.
Chief Development Officer