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Qualified Charitable Distribution from an IRA

If you are 70½ years old or older, you can take advantage of a simple way to benefit The Green Dragon Foundation (GDF) and receive tax benefits in return. You can give up to $100,000 from your IRA required minimum distribution (RMD) directly to qualified organizations such as The Green Dragon Foundation without having to pay income taxes on the money. This popular gift option is commonly called the IRA charitable rollover, but you may also see it referred to as a qualified charitable distribution (QCD).

Why Consider This Gift?

  • Your gift will be put to use today, allowing you to see the difference your donation is making.
  • You pay no income taxes on the gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your deductions.
  • If you have not yet taken your required minimum distribution for the year, your IRA charitable rollover gift can satisfy all or part of that requirement.

Gary and Barbara Baylor have been contributors to The Green Dragon Foundation for nine years. Most recently, they made the decision to make contributions to the GDF through their IRA. Here’s why: “Giving monetary gifts through IRA distributions (RMDs) gives charities an added leverage—the amount we wanted to donate with the advantage of not paying taxes. It is a ‘bigger bang for our buck’ and a big win for GDF. We have found that gifts from our IRAs are an efficient way to support charitable causes. By giving gifts through IRA distributions (RMDs), we avoid income taxes on the distributions, it puts the money to work and makes us happy to support causes that are important to us.”

How Can I Make a Qualified Charitable Distribution to Support GDF?

  • QCDs are easy; a simple letter of instruction to your IRA administrator begins the process. We will provide one for you, or you can click HERE to download and print the IRA Form and Instructions to share with your IRA account administrator.
For more information about making a gift through your IRA distribution, contact The Green Dragon Foundation office at (570) 522-8433.