Support the Parish with an IRA Qualified Charitable Distribution (QCD)
Donors age 70½ or older may qualify to make a charitable gift directly from an IRA to St. Ignatius Loyola Parish.
A Qualified Charitable Distribution (QCD) is a direct transfer of funds from your IRA custodian, payable to a qualified charity, such as our parish. As long as certain requirements are met, QCDs can fulfill your required minimum distribution (RMD), avoid paying income tax on the distribution, and provide a significant gift to support the work and mission of our parish.
A few points when considering an IRA QCD:
· the donor must be 70½ years old or older
· the distribution must transfer directly from your IRA to a qualified charitable organization
· each individual in a married couple can donate up to $100,000 from individual IRA accounts
· Note: the gift would not be eligible for a charitable income tax deduction
Please consult your tax professional to determine if this charitable giving strategy is an option for you.