IRA Donations

Support the OutCenter with donations from your IRA!

If you are 70 1/2 years old or older, did you know you can make a qualified charitable distribution (QCD) up to $100,000 total to one or more charities directly from a taxable IRA instead of taking their required minimum distributions? As a result, you may avoid being pushed into higher income tax brackets and prevent phaseouts of other tax deductions, though there are some other limitations.

Qualified charitable distributions are made directly to the eligible charity from a traditional IRA, inherited IRA, inactive Simplified Employee Pension (SEP) plan and inactive Savings Incentive Match Plan for Employees (SIMPLE) IRAs. (Inactive SEP and SIMPLE IRAs are accounts that no longer receive employer contributions.)

The money is a direct transfer that never passes through the hands of the IRA holder. Instead, the IRA custodian can either send a check directly to the charity or the account owner, who then hands it over to the charity.

For a QCD to count toward your minimum annual IRA distribution, it must be made by the same deadline as a normal distribution, which is usually Dec. 31 of the tax year in question. Please consult with your investment folks for more information and consider making a QCD to OutCenter Southwest Michigan!

Ensure that we can continue to serve Southwest Michigan today for many days to come!