Make an IRA Qualified Charitable Distribution
Receive tax benefits while assisting the injured military heroes served by Warrior Foundation Freedom Station.
This popular gift option enables individuals age 72 and older to give any amount, up to $100,000, from your traditional IRA directly to a qualified charity such as Warrior Foundation Freedom Station – without having to pay income taxes on the distribution.
A qualified charitable distribution (QCD) is an otherwise taxable distribution from a traditional individual retirement account (IRA), owned by an individual age 72 or over. Your qualified charitable distributions can satisfy all or part of the amount of your required minimum distribution from your IRA.
Example:
If your 2018 required minimum distribution was $10,000, and you made a $5,000 qualified charitable distribution to Warrior Foundation Freedom Station, you would have had to withdraw another $5,000 to satisfy your required minimum distribution. If you made a $10,000 qualified charitable distribution to Warrior Foundation Freedom Station, that gift would have satisfied the full amount of your required minimum distribution.
QCDs are popular and advantageous way to give for many reasons:
· Your dollars will be put to work today, funding vital programs that are changing the lives of our nation’s injured warriors.
· 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 are at least 72 years old and have not yet taken your required minimum distribution for the year, your gift can satisfy all or part of that requirement.
· Since the gift doesn’t count as income, it can reduce your annual income level. This may help lower your Medicare premiums and decrease the amount of Social Security that is subject to tax.
Please consult with your financial, legal or tax advisor prior to making any gifts.
How to in Three Easy Steps
1. Inform us of your plans to make an IRA rollover gift by providing the following information:
· Your full legal name.
· Amount of gift.
· Name of your IRA administrator.
· Gift designation (purpose). IRA gifts will be directed to our general fund unless we receive other instructions.
2. Contact your IRA Administrator to initiate the gift. Request that your gift be sent to:
Sandy Lehmkuhler, CEO Warrior Foundation Freedom Station sandy@warriorfoundation.org (619) 993-1737
Please instruct your IRA administrator to add your name to the reference field.
3. Please send information about your gift to:
Sandy Lehmkuhler,CEO Warrior Foundation Freedom Station sandy@warriorfoundation.org (619) 993-1737
Richard S. Carlquist, AIF® CFP® Financial Advisor, Warrior Foundation Freedom Station (619) 294-9727 Ext. 102
Thank you for your donation. We will be in touch with you once your gift is received.