With the IRA Qualified Charitable Distribution, if you are 70½ years old or older you can take advantage of a simple way to help Faith, Hope, and Love Global Ministries and receive tax benefits in return. Every individual over 70 1/2 can give up to $100,000 annually from their qualifying IRAs directly to a qualified charitable institution without having to pay income taxes on the distribution.
Since the amount of a Qualified Charitable Distribution is not included in your adjusted gross income (AGI),
- It can reduce distributions to you from your IRAs that could otherwise trigger phase-outs of your deductions and personal exemptions.
- It will not be included in your base amount calculation for purposes of determining the extent to which social security benefits are included in gross income and may lead to Medicare premium savings.
There may be other benefits to you depending on your personal tax situation or state of residence. Please consult with your tax advisor prior to considering a Charitable Rollover or distribution gift from your IRA.
You can direct your Financial Advisor or Institution to send your QCD directly to Faith, Hope, and Love Global Ministries. Please have them indicate your name on the contribution.
Faith, Hope, and Love Global Ministries
3001 Broadway Street NE, Suite 640
Minneapolis, MN 55413
Tel: (952) 465-7202 (Claire Kellner)