Qualified Charitable Deducations
Foundation
Qualified Charitable Distributions/Charitable IRA Rollover Gifts
A "qualified charitable distribution" (QCD) is a tax-free donation made directly from an Individual Retirement Account (IRA) to a qualified charity.
How It Works
- You must be 70.5 or older at the time of the gift.
- Distributions must be made directly from a traditional IRA account by your IRA administrator.
- Gifts must be outright and go directly to the Optica Foundation. Distributions to donor-advised funds or life-income arrangements such as charitable remainder trusts and charitable gift annuities do not qualify.
- Gifts from 401(k), 403(b), SEP, and other plans do not qualify.
- Ask your financial advisor if it would make sense for you to create a traditional IRA account so you can benefit from an IRA Qualified Charitable Distribution.
- Inform us of any designations by contacting Foundation@optica.org or Kristen Wesley. Deputy Senior Director, Development, at +1.202.416.1441.
Benefits
- Qualified Charitable Distributions/Charitable IRA Rollover Gifts are excluded from gross income for federal income tax purposes on your IRS Form 1040.
- The gift counts toward your required minimum distribution (RMD) for the year in which you made the gift, and could help lower your tax bracket.
