Empowering Generosity with Qualified Charitable Distributions (QCDs)
At East St. Tammany Habitat for Humanity, we believe in the power of generosity and the positive impact it can have on the lives of those in need. One powerful tool that enables donors to give back while receiving potential tax benefits is the Qualified Charitable Distribution (QCD). Let’s explore what QCDs are and how they can make a difference.
If you are 70.5 or older and have a traditional IRA, there are likely significant benefits to making a donation from your IRA account.
IRA gifts are generally not recognized as taxable income and if you must take a Required Minimum Distribution (RMD) this year, giving from your IRA is a compassionate way to fulfill it.
Many supporters of East St. Tammany Habitat for Humanity give smartly through a distribution from their IRA. Nearly all IRA custodians make this process simple and smooth for their clients, though their forms and processes will differ.
Qualified Charitable Distributions are a way for individuals aged 70½ and older to make tax-free donations from their Individual Retirement Accounts (IRAs) directly to qualified charitable organizations like ours. By using QCDs, donors can fulfill their charitable desires while minimizing their taxable income.
Tax Benefits: QCDs offer significant tax advantages. By donating directly from their IRAs, donors can exclude the distributed amount from their taxable income, reducing their overall tax burden.
Fulfillment of Required Minimum Distributions (RMDs): For donors who must take mandatory RMDs from their IRAs, QCDs present an excellent opportunity to satisfy these requirements while supporting causes close to their hearts.
Increased Impact: Every dollar donated through a QCD goes directly to the qualified charity, maximizing the impact of the donor’s contribution.
Check Eligibility: Ensure that you are 70½ or older at the time of the distribution.
Contact Your IRA Administrator: Reach out to your IRA custodian or administrator to initiate the QCD process. They will guide you through the necessary steps to complete the donation.
Choose East ST. Tammany Habitat for Humanity Inc: When making a QCD, select East St. Tammany Habitat for Humanity inc. as the beneficiary to support our vital work in creating a world where everyone has a decent place to live.
Legal Name: East St. Tammany Habitat for Humanity, Inc.
Tax ID / EIN: 72-1204556
Address: 440 Brownswitch Rd. Slidell, LA. 70458