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Qualified Charitable Distribution

You may be looking for a way to make a big difference to help further our mission. If you are 70½ or older you may also be interested in a way to lower income taxes on your IRA withdrawals. An IRA charitable rollover is a way you can help continue our work and benefit this year.

The charitable IRA rollover, or qualified charitable distribution (QCD), is a special provision allowing particular donors of age 70½ to exclude an IRA distribution from taxable income—and count toward their required minimum distribution—certain transfers of Individual Retirement Account (IRA) assets that are made directly to public charities.

A charitable IRA distribution makes it easier to use your IRA assets during your lifetime to make charitable gifts. Your qualified charitable distributions can satisfy all or part of the amount of your required minimum distribution from your IRA. For example, if your required minimum distribution was $10,000, and you made a $5,000 qualified charitable distribution to the UNCSA, you would have had to withdraw another $5,000 to satisfy your required minimum distribution.

Benefits of an IRA charitable distribution

  • Avoid income taxes on transfers of up to $105,000 from your IRA to University of North Carolina School of the Arts Foundation. Amounts over $105,000 are subject to personal income taxes.
  • Gifts to the UNCSA Foundation are considered qualified charitable distributions and may satisfy your required minimum distribution (RMD) for the year
  • Reduce your taxable income, even if you do not itemize deductions. Your required minimum distribution is taxable income to you unless it is a qualified charitable distribution.
  • Make a gift that is not subject to the deduction limits on charitable gifts. Qualified charitable distributions from an IRA are not included in the 50% of adjusted gross income limitation on charitable gifts of cash.
  • Help further the work and mission of University of North Carolina School of the Arts Foundation

How an IRA charitable distribution gift works

  1. Contact your IRA plan administrator to make a gift from your IRA to University of North Carolina School of the Arts Foundation.
  2. Your IRA funds will be directly transferred to University of North Carolina School of the Arts Foundation to help power creativity in our emerging artists.
  3. Please note that IRA charitable distribution gifts do not qualify for a charitable deduction.
  4. Please contact us if you wish your gift to be used for a specific purpose.

Gifts from your IRA

If you are 70½ or older, you can use your IRA to fulfill your charitable goals. You can use the "Make a Gift From My IRA" tool to contact your IRA custodian and make a qualified charitable distribution. We will acknowledge your generous gifts as a qualified charitable distribution, which may satisfy your Required Minimum Distribution, if applicable.

Contact us

If you have any questions about an IRA charitable distribution gift, please contact us. We would be happy to assist you and answer any questions you might have.

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