The IRA Gift (QCD)

Your IRA can provide a tax-smart way to make an impact with Community Foundation for Monterey County now. The Qualified Charitable Distribution or QCD (sometimes called an “IRA Charitable Rollover”) is a great way to make a tax-free gift now to Community Foundation for Monterey County and satisfy your Required Minimum Distribution (RMD), too.

How Do I Qualify?

The Qualified Charitable Distribution (QCD) offers multiple benefits for making gifts from your IRA.

  • You must be 70½ years or older at the time of the gift.
  • Gifts must go directly from your IRA to Community Foundation for Monterey County.
  • Gifts cannot exceed $100,000 per donor per year.

Benefits of Qualified Charitable Distribution

  • If you don’t itemize your income tax deductions, a QCD offers all of the benefits of an itemized income tax charitable deduction
  • If you are age 72 or older and must take a Required Minimum Distribution RMD, a QCD gift can satisfy your RMD without increasing your income taxes.
  • You may direct your gift to a program or area of your choice.
  • It is a wonderful way to create an immediate impact on Community Foundation for Monterey County.

How Can I Make an IRA Charitable Rollover?

Contact your IRA administrator to request a Qualified Charitable Distribution from your IRA to The CFMC.

 

Christine Dawson

Christine Dawson

Vice President of Philanthropic Services
831.375.9712 x126
Email Christine

Dan Baldwin

Dan Baldwin

President/CEO
831.375.9712 x115
Email Dan

If you have included the CFMC in your estate plans and would like to be part of the Legacy Society, please let us know so we may recognize your generosity.