A popular, tax-smart option for giving is through a qualified charitable distribution (QCD) from your Individual Retirement Account (IRA). The law permitting special treatment of QCDs from IRAs was extended by Congress and the President on December 18, 2015. To take advantage of this special opportunity, contact your IRA administrator today.
- The distribution must be made from a traditional or Roth IRA. Other retirement accounts, such as those under 401(k), 403(b), or 401(a) plans, are not eligible.
- You must be at least 70-1/2 years of age when the distribution is made.
- You can give up to $100,000 per year without including the distribution in your gross income. Married couples may be able to give up to $200,000. Amounts given count toward your annual required minimum distribution.
- Distributions cannot be made to private foundations or donor advised funds under this provision. Recipients must be qualified public charities like One Roof Community Housing.
- The distribution must be made directly from the IRA administrator to One Roof Community Housing or other qualified public charity (rather than to you).
- Gifts under this provision must be made outright, and cannot be used for any quid pro quo benefits or to establish a charitable gift annuity or charitable remainder trust.
- The law permitting this special treatment has been made permanent, with no expiration, so qualified charitable distributions now can be made each year.
Circumstances may vary from one person to another; One Roof recommends that donors discuss plans with a professional tax advisor.
If this giving option is a possibility for you, below are two sample letters for communicating your wishes to One Roof Community Housing and to your IRA administrator. These letters will help us to provide the proper receipt for your gift.
Letter to IRA Administrator to Request Qualified Charitable Distribution from IRA to One Roof Community Housing
Letter Notifying One Roof Community Housing Distribution from IRA
For assistance or additional information, contact One Roof Community Housing, Community Relations Coordinator, 218-206-9305 or 218-727-5372.