IRA Charitable Rollovers and RMD
Did you know you can support Green Foothills by making a tax-free gift directly from your IRA?
Make a Tax-Free Gift from Your IRA
If you’re 70½ or older, you can use your annual Required Minimum Distribution (RMD) to contribute, and potentially benefit from a tax advantage. A qualified charitable distribution (QCD) is a distribution of funds from your IRA (other than a SEP or SIMPLE IRA) directly to a qualified charitable organization like Green Foothills.
To Qualify:
- You must be 70½ or older at the time of the gift.
- Distributions must be made directly from a traditional IRA account by your IRA administrator to Green Foothills Foundation (dba Green Foothills).
- The distribution must be completed by your financial institution’s RMD deadline.
- No goods or services can be received in return for the gift. You will receive written confirmation from Green Foothills for tax purposes
Tax Benefits:
- IRA Qualified Charitable Distributions (QCDs) are excluded from gross income on your federal tax return (IRS Form 1040), helping you avoid higher tax brackets that might result from RMDs.
- Your gift will count toward your RMD for the year, while avoiding federal income taxes on the distribution.
We always recommend consulting with your financial advisor to choose the best giving strategy for your unique situation.
For more information, please contact Justyne Schnupp at justyne@greenfoothills.org or 650.968.7243.