If you are over age 70½ (or know someone who is) you can reduce your taxes, even if you don’t itemize deductions on your tax return, by making a Qualified Charitable Distribution (QCD) from your IRA.
How does this work?
These transfers, known as qualified charitable distributions or QCDs, offer eligible older Americans a great way to easily give to charity before the end of the year. Moreover, for those who are at least 72, QCDs count toward the IRA owner’s required minimum distribution (RMD) for the year.
How do I make a QCD to Realize Impact?
Contact your IRA administrator and provide them with Realize Impact’s tax ID #46-3594732 and our mailing address: 271 Winslow Way E, #10234, Bainbridge Island, WA 98110. For more information, consult your tax professional.
Using a QCD to make an impact investment as well as a grant.
You can use a QCD as the capital to recommend either an impact investment or a fiscal sponsorship.
