IRA Charitable Rollover
The Qualified Charitable Distribution (QCD) enables donors to make a tax-free gift to the Bellforge Arts Center using your qualified retirement plan.
Eligibility
- 70½ years old or older at the time of the gift
- Gifts must go directly from your IRA to the Bellforge Arts Center
- Gifts must come from a traditional IRA account
- Gifts cannot exceed $100,000 per donor per year (married couples can give $200,000)
Benefits of a QCD Donation
- If you don’t itemize, a QCD offers all the benefits of an income tax charitable deduction—your gift to the Bellforge Arts Center is tax-free.
- Gifts can satisfy your RMD—if you are 73 years old (or older) and required to take withdrawals from your IRA—without increasing your income taxes.
How To
- Contact you IRA administrator to request the forms required to initiate a QCD.
- Complete the necessary forms from your IRA administrator (which are often available online).
- Notify the Bellforge Arts Center about your gift by emailing info@bellforge.org. Let us know your gift is a QCD and how it is to be used. This will ensure it is directed appropriately and we provide you with a proper acknowledgment.
Questions?
Contact us at info@bellforge.org