Qualified Charitable Distributions
Donate up to $108,000 per tax year directly from an IRA.
If you’re 70½ or older, you can donate up to $108,000 per tax year directly from an Individual Retirement Account (IRA) to charities like Seattle’s Union Gospel Mission.
How to make an IRA qualified charitable distribution
Step 1: Contact your IRA administrator
Instruct your administrator to transfer funds to the charity you designate, like Seattle’s Union Gospel Mission.
If you'd like to make a QCD gift, your financial institution should make the check out to "Seattle’s Union Gospel Mission" and identify you as the donor by name and address.
They can mail the check to:
Seattle’s Union Gospel Mission
P.O. Box 202
Seattle, WA 98111-0202
Step 2: Let us Know about your Gift!
Help us credit your gift and thank you by having your IRA administrator include your full name and mailing address on the gift. Also, have your administrator note that the transfer is an IRA Qualified Charitable Distribution. We do not encourage restricted gifts.
If your financial institution cannot include your full name and address with the check, please complete the form below so that we can identify your donation when it arrives.
What are the IRA charitable rollover rules?
Here's how a Qualified Charitable Distribution (QCD) works:
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You may distribute an amount, up to $108,000 in a calendar year, to one or more public charities, so long as it is completed by December 31 of that year.
QCDs count toward your required minimum distribution for the year. If you have to take your required minimum distribution but you don't want or need the funds, QCDs are a good way to distribute the amount out of the IRA. As an added benefit, you'll avoid paying income tax on your gross income up to $108,000.
