Make a Tax-Smart Gift with a QCD
If you’re 70½ or older, you may be eligible to make a Qualified Charitable Distribution (QCD) directly from your Individual Retirement Account (IRA) to Communities In Schools of Cape Fear. A QCD allows eligible donors to support local students without including the distribution in their taxable income. If you’re required to take a Required Minimum Distribution (RMD), your QCD can also satisfy part or all of your annual RMD.
QCD Eligibility
- You must be 70½ or older when the gift is made.
- QCDs can be made from traditional IRAs and from SEP or SIMPLE IRAs that are not actively receiving employer contributions.
- QCDs cannot be made directly from employer-sponsored retirement plans such as 401(k), 403(b), or 457 plans.
- The distribution must be made directly from your IRA custodian to Communities In Schools of Cape Fear to qualify.
How to Make a Qualified Charitable Distribution
1: Contact your IRA custodian or financial advisor and request a Qualified Charitable Distribution to Communities In Schools of Cape Fear.
2: Instruct your IRA custodian to send the distribution directly to Communities In Schools of Cape Fear. A distribution made payable to you generally will not qualify as a QCD.
3: Let us know your gift is on the way by emailing info@ciscapefear.org so we can properly acknowledge your generosity.
Legal Name: Communities In Schools of Cape Fear Inc
Tax ID / EIN: 20-3385755
Mailing Address: PO Box 398 Wilmington, NC 28402
Questions?
We’re happy to work with you or your financial advisor to make the process as simple as possible. Simply email info@ciscapefear.org
Communities In Schools of Cape Fear does not provide legal or tax advice. Please consult your financial advisor, tax professional, or IRA custodian regarding your eligibility and the tax implications of a Qualified Charitable Distribution.