IRA Qualified Charitable Distribution (QCD)
Use your IRA
A popular, tax-smart option for giving - if you are at least 70 1/2 - is through a qualified charitable distribution (QCD) from an
Individual Retirement Account (IRA).
Please note the following:
The distribution may be made from a traditional IRA, but other retirement accounts, such as those under 401(k) or 403(b) plans, are not eligible.
The distribution must be made directly from the IRA to MRC (rather than to you).
You can give up to $100,000 per year without including the distribution in your gross income.
Amounts given count toward your annual required minimum distribution.
QCD distributions cannot be also be treated as taxable deductions.
The law permitting this special treatment has permanent, with no expiration, so qualified charitable distributions now can be made each year.
Because circumstances vary, donors are encouraged discuss plans with a professional tax advisor.
For more information, please email president@minneapolisrowing.org
The Minneapolis Rowing Club is a 501(c)(3) non-profit.