IRA

Giving Through Your

Qualified Charitable Distribution

If you are age 70 ½ and older, you can make direct qualified charitable distributions (QCD) from your IRA (Individual Retirement Account) to the St. Photios Foundation, Inc. without any tax consequences.

All IRA withdrawals (non QCD) are fully taxable.  A new law, though, makes it possible to direct up to $100,000 to the St. Photios Foundation or other nonprofit organizations a year with no income taxes being charged.  These QCD contributions can help you fulfill your annual IRA required minimum distribution and allow non-itemizers to receive tax benefits from gifts to the St. Photios Foundation.

FOLLOW THESE STEPS

To use the QCD provision to make an immediate impact with the St. Photios Foundation:

  • You must be age 70 ½ or older.
  • The funds must go directly from your IRA account to the St. Photios Foundation, Inc.
  • You cannot exceed $100,000 in QCD gifts a year.
  • QCD contributions must be unrestricted and cannot provide any incidental benefits to the donor.

For more information, please contact Polly Hillier at 904-829-8205 or email phillier@stphotios.com.