Qualified Charitable Donation

A Qualified Charitable Distribution (QCD) is a direct transfer of funds from your Individual Retirement Account (IRA) to a qualified charity. QCDs can be counted toward satisfying your required minimum distributions (RMDs) for the year, as long as certain rules are met.

In addition to the benefits of giving to charity, a QCD excludes the amount donated from taxable income, which is unlike regular withdrawals from an IRA. QCDs reduce your Adjusted Gross Income (AGI), which generally provides a greater tax benefit than claiming the charitable contribution as a tax deduction and does not require itemization.

How it works:

• Contact your plan administrator or direct distributions in the amount of your choosing from your traditional or Roth IRA to St. Anthony of Padua Parish 172 Belmont Street, Manchester, NH 03103-4452.

• The distributions are required to go directly to St. Anthony Church to avoid federal income tax.

• Your gift may satisfy your IRA’s annual RMD, if applicable.

• You can donate up to $100,000 each year without incurring income tax on your withdrawal.