Transparency2023-07-14T11:11:35+00:00
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The IRA Gift (QCD)

Your IRA can provide a tax-smart way to make an impact with The Pontifical Mission Societies U.S.A. now. The Qualified Charitable Distribution or QCD (sometimes called an “IRA Charitable Rollover”) is a great way to make a tax-free gift now to The Pontifical Mission Societies U.S.A. and satisfy your Required Minimum Distribution (RMD), too.

How Do I Qualify?

The Qualified Charitable Distribution (QCD) offers multiple benefits for making gifts from your IRA.

  • You must be 70 1/2 years or older at the time of the gift.
  • Gifts must go directly from your IRA to The Pontifical Mission Societies U.S.A.
  • For 2024, total QCD gifts cannot exceed $105,000 per donor.

Benefits of Qualified Charitable Distribution

  • If you don’t itemize your income tax deductions, a QCD offers all of the benefits of an itemized income tax charitable deduction.
  • If you are age 73 or older and must take a Required Minimum Distribution RMD, a QCD gift can satisfy your RMD without increasing your income taxes.
  • You may direct your gift to a program or area of your choice.
  • It is a wonderful way to create an immediate impact on The Pontifical Mission Societies U.S.A.

How Can I Make an IRA Charitable Rollover?

Contact your IRA administrator to request a Qualified Charitable Distribution from your IRA to TPMS.

 

 

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