IRA Rollover Qualified Charitable Distribution
Save Taxes & Help the Homeless!
If you have an IRA, you must begin drawing a Required Minimum Distribution (RMD) at age seventy and a half, regardless of your current financial needs. Unfortunately, these required distributions are taxed as ordinary income, increasing your tax liability. Did you know that a Qualified Charitable Distribution (QCD), often called a charitable rollover, can satisfy your RMD and reduce your tax exposure while helping the the people served by our shelters?
Consider a charitable rollover to benefit our homeless guests at our St. Vincent de Paul Gateway Shelters! We will gratefully apply your gifts to provide a safe environment and meals for the hundreds of men, women, and children who stay with us each night.
Simply notify your IRA custodian (bank, brokerage, or financial advisor) to send a check to:
Society of St. Vincent de Paul
124 W Apple St
Dayton OH 45402
If your IRA custodian needs our Tax Identification Number, it is 31-1011485.
Please note that your IRA custodian must send us a check directly, and that you must contact 937-802-3890 or Michael@StVincentDayton.org after making your gift in order for us to successfully attribute the gift. The tax avoidance will not work if you receive the funds and then write a personal check to us. The annual QCD limit is $100,000.
As with all suggestions regarding ways to give to St. Vincent de Paul, this information is not offered as tax advice. Please consult your tax advisor for each of your charitable gift for which you would like income tax benefits!
If you have any questions or concerns, please contact Michael Vanderburgh at 937-802-3890 or Michael@StVincentDayton.org.