QUALIFIED CHARITABLE DISTRIBUTION
A Qualified Charitable Distribution (QCD) is a direct transfer of assets from your IRA to an eligible charity. In 2024, you can make a QCD of up to $105,000.00 per person, since IRAs are held individually.
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WHAT ARE THE BENEFITS
OF A QCD?
It is best to explore the potential benefits of a QCD for your particular situation by discussing with your tax advisor, wealth management professional and/or attorney. Here are a few ways you may benefit:
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QCDs made via direct transfer to an eligible charity avoid taxation as income.
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QCDs can potentially help you reduce your tax bracket.
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A QCD can help you reach your required minimum distribution (“RMD”).
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QCDs can help you avoid paying higher Medicare premiums by reducing your modified adjusted gross income (“MAGI”).
WHO CAN MAKE A QCD?
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QCDs can only be made by eligible IRA holders 70 ½ and older.
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Eligible IRAs include SEP IRA, SIMPLE IRA, traditional IRAs and inherited IRAs. Please note 401(k)s are not eligible for QCD.
I'M READY! I WANT TO MAKE MY QCD TO
ARCHIE'S ANGELS, INC.!
Thank you for your generosity!
Please contact your IRA advisor and request to make a QCD to Archie’s Angels, Inc., Tax ID number 84-5020328.
Physical QCD checks can be mailed to:
Archie’s Angels, Inc.
P.O. Box 5712
De Pere, WI 54115
For direct transfers, please contact our Treasurer, Katrina Schlafer, for routing instructions:
(920) 249 - 6051 or email us at AngelsforArchie@gmail.com.
To learn more about QCDs, please visit www.IRS.gov.
The material presented on www.angelsfoarchie.org is not given as legal or tax advice.
Contact your tax advisor, attorney and/or wealth management professional to review potential tax obligations and understand the nuances of your situation.
