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 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 shelter, food, and clothing for the hundreds of men, women, and children who stay with us each night.
The steps to process a QCD vary by IRA custodian, so please contact your specific custodian to ensure you comply with all requirements.
Once you have completed the required steps for the QCD with your IRA custodian and named Society of St. Vincent de Paul Dayton as the beneficiary, a check should be sent to:
Society of St. Vincent de Paul
124 W Apple St
Dayton OH 45402
If needed, our Tax Identification Number is 31-1011485.
Please note that the check must come to us directly from your IRA account. The tax advantages of a QCD are not valid 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 any 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.