Make a Qualified Charitable Distribution from Your IRA
A qualified charitable distribution from an IRA is a good way for IRA owners age 70½ and over to support our work. It’s easy to do.
- Instruct your IRA custodian to make a distribution directly to Columbia.
- Although there is no tax deduction, the distribution is excluded from your income for federal tax purposes—no tax is due!
- Up to $105,000 of your gift (annual aggregate limit for 2024) qualifies for this favorable tax treatment.
- Your gift makes an immediate impact.
- A qualified charitable distribution from an IRA counts toward a donor's RMD if one is due.
A new QCD option to consider
IRA owners age 70½ or older may also choose to make a one-time, tax-free IRA distribution of up to $53,000 in 2023 to create a new charitable gift annuity (GCA) or a charitable remainder trust (CRT). The distribution counts toward your RMD if one is due. This is an option worth considering if you want to make a gift from your IRA and establish a new income stream.
Note that spouses may contribute up to $53,000 each (in 2024) from their individual IRA's into a single CRT or a joint-life CGA. Payments may only go to you and/or your spouse.
Please contact us to learn more about planning and completing a qualified charitable distribution, or click here to calculate your required minimum distribution.
Your IRA administrator must make the distribution directly to Columbia. Use this letter of instruction to your IRA administrator to request a distribution to CUIMC.
We want to make sure to apply your gift correctly when we receive the check from your IRA custodian. Please use this letter that you may send to our team at CUIMC to alert us of your pending gift and any special instructions.