Qualified Charitable Distribution Through an IRA

You may be aware of the many recent changes in retirement planning.  There have been changes in the age you need to begin taking Required Minimum Distributions (RMD) from your retirement accounts has been a moving target. We’ve gone from 70 ½ to 72 to 73 and now to age 75 for those born in or after 1960. However, one thing that hasn’t changed is the ability to make Qualified Charitable Distributions (QCD) from your IRA accounts beginning at age 70½, up to an annual limit of $100,000.

A QCD is a donation you make directly from your IRA to a qualified charity. The QCD is excluded from your taxable income but counts towards your RMD if you take them. This differs from a charitable donation made from non-IRA funds and often results in a better outcome from a tax-planning perspective. For example, decreasing your Adjusted Gross Income may favorably affect your AGI-based phase-outs and Medicare Part B premiums. Another consideration to factor in is if you are taking the standard deduction or itemizing on Schedule A. Given today’s expanded standard deduction amounts, many taxpayers don’t benefit tax-wise from their charitable donations, making this strategy even more desirable.

Whatever your charitable giving preferences are, it’s important to understand your charitable giving strategies’ tax-related pros and cons. Donors should always consult their tax professional before making any gift.

Notify us of your intent to give by completing this Beth Inn IRA Form.

Your IRA gift may be mailed to:

Kim Fischbach
Bethlehem Inn
P.O. Box 8540
Bend, OR 97708

Bethlehem Inn tax ID is 93-1323419

For more information on how to make an IRA gift please contact Kim Fischbach in our Philanthropy Office by email or by phone at 541.322.8768 ext. 21. Contact your tax consultant for information on how giving through an IRA will impact your tax situation and your RMD.

Contribution through a Donor Advised Fund, Community Foundation or Grant

For information, please contact Kim Fischbach, Philanthropy Office at 541.322.8768 ext. 21 or by email at kim@bethleheminn.org