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What’s a Qualified Charitable Distribution?

Did you know you can support ELAP while optimizing your retirement savings?

A Qualified Charitable Distribution (QCD) is a direct transfer of funds from your IRA custodian to a qualified charity.

Here are some of the benefits of donating through a QCD:

  1. You can satisfy Required Minimum Distributions: QCDs can count toward meeting your Required Minimum Distributions as long as specific rules are followed.
  2. Tax Benefits: QCDs exclude the donated amount from your taxable income unlike regular IRA withdrawals. Lower taxable income can preserve valuable tax credits and deductions, such as those for Social Security and Medicare.
  3. No need to itemize: Recent tax law changes might have you considering the standard deduction. With QCDs, you can still support non-profits without itemizing.

Consider supporting ELAP through your IRA. Contact Alexandra Comstock, ELAP Development Director, for more information.

(Note: ELAP does not provide tax advice. Please consult with your tax professional.)

Due to high demand, all of our appointment slots are currently full, and we are unable to accommodate any new appointments at this time. If you are a tenant seeking assistance, please complete the application form.
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