Make Your IRA Work for You and Your Community

Did you know that your retirement account can be a powerful tool for charitable giving? If you are 70½ or older, you are eligible to make what’s called a Qualified Charitable Distribution (QCD) directly from your Individual Retirement Account (IRA). At age 73, the IRS requires you to take annual minimum withdrawals—called Required Minimum Distributions (RMDs)—from your IRA. For many people, those withdrawals increase taxable income.

But here’s the good news: by directing your distribution straight to a qualified charity, like the Community Foundation of White County, you can reduce your taxable income while making a lasting difference right here at home.

How It Works

·        Eligibility: If you are at least 70½, you can make a QCD of up to $100,000 per year directly to a charitable organization.

·        Tax Savings: Because the funds go directly to charity, the distribution does not count as taxable income. This can help lower your overall tax bill and potentially reduce the impact on Social Security benefits and Medicare premiums.

·        Flexibility: Your gift can support the broad mission of the Community Foundation—meeting ever-changing needs across White County—or you can choose to designate your gift to one of our 150+ funds, supporting causes you care about most, from education to the arts to health and human services.

When you give through the Community Foundation of White County, you can:

·        Support a wide range of community needs, from youth development to historic preservation.

·        Honor your passions by directing your IRA gift to a specific fund or field of interest.

·        Create lasting impact knowing your gift is stewarded with care and invested for future generations.

Making a charitable distribution from your IRA is one of the most tax-wise ways to give. Not only do you satisfy your IRS withdrawal requirement, but you also fuel programs and projects that strengthen and transform our community.

If you’d like to explore how an IRA charitable distribution might work for you—or how you can direct it to an existing fund or create your own—please reach out to our office. Together, we can help you make the most of your giving.