Your Qualified Charitable Distribution can make a major impact for good.
A qualified charitable distribution (QCD) is a distribution of funds from your IRA (other than a SEP or SIMPLE IRA) directly to a qualified charitable organization, such as Conservation Volunteers International Program. Because the gift goes directly to the charity without passing through your hands, the dollar amount of the gift may be excluded from your taxable income up to a maximum of $100,000 annually, with some exceptions.
What you need to know:
- Individuals who are 70½ years or older may make gifts directly from their IRA to charitable institutions and these gifts will count as part of their required minimum distributions.
- Charitable gifts of up to $105,000 — from either traditional IRAs or Roth IRAs — are excluded from your taxable income and can be used to satisfy your required minimum distribution.
- The transfer must be made directly from your IRA account to a qualified charity and must be for an outright gift.
- The transfer from your IRA to ConservationVIP is not tax deductible. However, there is generally a benefit to you because the distribution amount is not included in your taxable income, so you will not pay tax on the distribution.
- Please consult your tax advisor for information regarding your specific situation. For more information about QCDs, please visit the IRS.gov website.
Contact your financial advisor to start the QCD giving process to:
Conservation Volunteers International Program
120 Village Square #9
Orinda, California 94563
ConservationVIP’s Tax # is 26-1154515
