We wanted to share with you a special way to support The Care Center if you are age 70 ½ or older.
A popular, tax-smart option for giving is a Qualified Charitable Distribution (QCD) from your Individual Retirement Account (IRA). To take advantage of this special opportunity, contact your IRA administrator today.
Here’s how it works:
You must be 70 ½ or older and eligible to take your Required Minimum Distribution (RMD).
Your total combined charitable IRA rollover contribution cannot exceed $100,000 in any one year. ($200,000 exclusions may apply for taxpayers who are married and filing a joint return).
Charitable contributions from an IRA must go directly to a qualified public charity. Contributions to donor-advised funds and private foundations do not qualify for tax-free IRA rollover contributions.
Distributions can only be made from traditional Individual Retirement Accounts or Roth IRAs. Charitable donations from 403(b) plans, 401(k) plans, pension plans, and other retirement plans are ineligible for tax-free treatment.
Distributions must be made directly from the IRA trustee payable to The Care Center.
In order to qualify for tax-free treatment, you cannot receive any goods or services in return for your charitable IRA rollover gift.
You must receive an acknowledgment from The Care Center for a rollover-qualified gift.
Benefits to you:
You can use an overlooked asset to make a gift to The Care Center.
The IRA Charitable Rollover permits you to make a charitable gift directly to charitable organizations such as The Care Center from your IRA — which means you can enjoy tax savings while supporting our mission to educate, inspire and entertain.
You don’t recognize the distribution as income for federal income tax purposes.
The distribution counts towards your Required Minimum Distribution (RMD) for the year.
Thanks so much for considering a gift to The Care Center!
