Did you know your IRA can do more than support your retirement? A Qualified Charitable Distribution (QCD) allows you to create meaningful community impact while also offering valuable tax benefits.
A QCD (also called IRA charitable distributions or IRA charitable rollovers) is a non-taxable distribution from your IRA to charitable organizations. If you are at least 70 ½ years old, you can choose to use your individual retirement account (IRA) to make a qualified charitable distribution (QCD) and minimize your tax liability. If you are 72 or older, a QCD can count towards your required minimum distribution (RMD) for the year. For 2025, the annual limit on QCDs increased to $108,000, or for married couples, each spouse can make QCDs up to the $108,000 limit for a potential total of $216,000.
Here’s where the Greenville Area Community Foundation can be a resource: QCDs can be made directly to most GACF funds to support our work in the area, and if your gift meets the fund minimum, you have the opportunity to create a named endowed fund. Although donor advised funds cannot receive QCDs, several other types of funds at GACF are eligible. These funds include:
| Unrestricted Funds A flexible fund type that can help meet ever-changing or unexpected community needs where it is needed most. |
| Field of Interest Funds A fund to benefit identified causes important to the donor, such as arts, education, children, or health. |
| Designated Funds Benefit one or more charitable causes (i.e. club, church, summer camp, or school) with annually distributed grants. |
| Scholarship Funds Provide funding for higher education, summer camps, student enrichment, and more. Scholarship criteria are determined by the donor and used by committees to select recipients. |
How It Works
- Work with your IRA administrator to transfer from your IRA directly to GACF, and we will handle all the administrative details involving the fund. But don’t delay if you would like the tax benefits yet this year- allow plenty of time, especially approaching the holiday season.
- Your gift can be placed into an endowment that is invested in perpetuity. Earnings from your gift are used to make grants addressing community needs. Your gift—and all future earnings from your gift—become a permanent source of community capital, helping to do good work forever.
We look forward to assisting you with your QCD. If you have any questions, please contact our office at 616.754.2640 or email us at hello@gacfmi.org.
This information is provided for general purposes only and is not a substitute for professional financial advice. We strongly encourage donors to consult with their own advisors to determine a suitable giving strategy for their individual situation.
