About Qualified Charitable Distributions
If you are 70 ½ or older, a Qualified Charitable Distribution (QCD) is a tax-efficient way for you to make gifts directly from your Individual Retirement Account (IRA).
QCDs can count towards satisfying your Required Minimum Distribution (RMD) for the year, which is the minimum amount that you must withdraw from your IRA each year once you reach age 73.
Benefits
- Reduce taxable income
- Counts towards your Required Minimum Distribution for the year
- Make an immediate impact on children we serve
How it works
- Instruct your IRA custodian to distribute funds directly to one or more eligible charities.
- Enjoy the benefit of a tax-free distribution from your IRA, contributing towards your required minimum distribution for the year.
- Potentially reduce tax liability by excluding the distribution amount from taxable income.
Many of our donors like to make an additional end of the year gift from their IRA. If this is your situation, we recommend that you contact your IRA custodian in early November. They often need several weeks to process your request before sending out the check.
You will not receive a charitable income tax deduction for a Qualified Charitable Distribution, but you will benefit from not paying taxes on this distribution.
Mailing Address for QCDs and Other Check Gifts
Please send checks to our Fifth Third Bank deposit address:
The Children’s Home Society of Florida
Fifth Third Wholesale Lockbox Operations
5050 Kingsley Dr. – MD 1MOC1Q
Lockbox # 631309
Cincinnati, Ohio 45227
We’re here to help you meet your goals!
Our team would be happy to speak with you in confidence about your giving goals, with no obligation.
Name: Casey Schroder
Title :Director of Donor Relations & Gift Planning
Phone: 321-558-4034
Email: casey.schroder@chsfl.org
Already included us in your estate plan? Let us know, so we can understand how you want your gift to support children.
More ways to make an impact
Gifts in a will or trust
Donations in your will or trust are (by far) the most popular type of gift plan. Learn more, or get help starting your will (for free!).
Beneficiary designations
Gifting investments and financial accounts not covered by your will — like 401(k) or IRA accounts — may help your loved ones avoid unwanted taxes, even if you’re below the estate tax threshold.
Gifts that pay you back
Give investments, retirement accounts or property while providing yourself or others with income for a period of time or distributions at a later date.