Qualified Charitable Distributions
Looking for a way to make a charitable impact? If you are 70 ½ or older, consider a Qualified Charitable Distribution (QCD) from your IRA. This strategy allows you to manage your required minimum distributions (RMDs) while also creating positive impact for your community.
A QCD allows you to give up to $105,000 annually directly from your IRA to a qualified charity, avoiding income tax on the distribution. This unique option benefits both you and the causes you care about by lowering your taxable income while helping you meet your philanthropic goals.
One of the greatest advantages of a QCD is that it counts toward your RMD, which begins at age 73 for most individuals. By choosing to make a QCD, you can reduce your taxable income for the year and potentially avoid moving into a higher tax bracket. For individuals who don’t itemize their deductions, this is an excellent way to still receive tax benefits from charitable giving.
Maximize Your Impact by Working with CFHZ
CFHZ offers an excellent pathway for those considering an IRA QCD. Our highly skilled staff has a deep knowledge of local needs, and we can help you direct your charitable dollars for greatest impact.
There are multiple fund types that donors can support with a QCD to CFHZ.
- Unrestricted and field of interest funds, which are part of the Community’s Endowment and respond to pressing needs and promising opportunities in the greater Holland/Zeeland area.
- Scholarship funds empower local students as they pursue continuing education at university or in skilled trades.
- Designated nonprofit funds support a specific nonprofit organization. CFHZ currently provides responsible and professional fund management to several area nonprofit endowments, or you can establish your own designated fund with a gift of $10,000 or more.
Unlike some charitable giving strategies, QCDs cannot be used to establish or add to a donor advised fund.
For more information about making a QCD through your IRA, contact your financial advisor or the team at CFHZ to discuss how you can give back to your community in a tax-savvy way.
Ready to Start a Conversation about Your Charitable Goals?
Reach out to our Donor Service team with questions about IRA QCDs, or any other charitable strategies.
Colleen Hill
VP of Development & Donor Services
chill@cfhz.org
616-994-8853
Sydney Santa Ana
Donor Services & Events Officer
ssantaana@cfhz.org
616-994-8856