IRA Charitable Rollover (Qualified Charitable Distribution)
An IRA Charitable Rollover or Qualified Charitable Distribution (QCD) is a gift from an Individual Retirement Account (IRA) directly to a non-profit. If you are aged 70 ½ or older, you can give any amount up to a maximum of $100,000 per year directly from your IRA to a qualified charity such as Catholic Charities of Saint Paul and Minneapolis – completely tax-free. Additionally, the gift will count toward your required minimum distributions (RMD) from your IRA once you are age 72 or older. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your deductions.
A QCD is only available from an IRA – not other types of retirement accounts such as 401(k) or 403(b) accounts. In order for a QCD to count toward an RMD, it must be made by or before the distribution’s deadline. That is typically Dec. 31 but can vary depending on individual circumstances.
If you would like to make a QCD, please contact your IRA administrator to request a direct qualified charitable gift to Catholic Charities, a 501(c)(3) organization. They may need the following information:
Federal Tax ID Number: 41-1302487
Catholic Charities of Saint Paul and Minneapolis
1007 East 14th Street
Minneapolis, MN 55404
In case your IRA administrator does not include your name on your distribution, please feel free to notify us of your donation in advance with the name of your IRA administrator and the amount. For this or any other questions on a QCD, we can be reached at firstname.lastname@example.org or by phone at (612) 204-8374.