Qualified Charitable Distribution (QCD)

Giving Through Your IRA

If you are age 70 1/2 or over, making a gift from your IRA to a qualified charity, like the Stillwater Medical Foundation is called a Qualified Charitable Distribution (QCD) or IRA Charitable Rollover.

Benefits

By making your distribution directly to an organization eligible to receive tax-deductible contributions, you can make a meaningful gift and at the same time lower your tax burden because the QCD does not count as income. [The QCD doesn't qualify for a charitable deduction, but it does not create a taxable event for you.]

If you do not need the funds from your IRA, then a QCD provides a convenient way to support the charities you care about.

If you do not itemize, the QCD is a way to receive tax benefits from your charitable giving.

How Do I Begin?

The process is easy. Reach out to your IRA plan administrator and inform them of your desire to make a QCD to Stillwater Medical Foundation (FEIN #73-1173571), to support the area of your choice.

Frequently Asked Questions:

I have several retirement accounts, does it matter which one I use?

Yes, QCD gifts can only be made from an IRA. 

Retirement plans such as a 401(k) or 403(b) do not qualify. However, you can rollover funds from these plans to into a traditional IRA and then make your QCD gift.

Can my gift be used as my required minimum distribution?

Yes! Beginning in the year you turn 72, you can use your gift to satisfy all or part of your RMD.

Can I designate how my QCD is to be used by the Foundation?

Yes, you may designate your QCD to support any area of care that is meaningful to you. Please contact us if you wish to have your gift used for a specific purpose, or have that purpose noted on your check.

Is there a limit on how much I can give?

Yes, the annual limit for QCD is $100,000. If you are married and your spouse has an IRA, he/she may also give up to $100,000.

Information contained herein was accurate at the time of posting. The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor.