Everyday Generosity
Ways to Give
Gifts to MABC may be made online at the link below or mailed to PO Box 885, Athens, GA 30601.
Qualified Charitable Distribution For Those Over 70
If you have an IRA (individual retirement account) and are at least 70 ½, you should know about the potential benefits of a qualified charitable distribution (QCD). A QCD is a direct transfer of funds from a taxable IRA to a charity/ non-profit organization of your choice. The benefit of a QCD primarily benefits those individuals that have reached the age of required minimum distributions (RMD) from their IRAs. Instead of taking the taxable distribution, the individual can direct all (up to $100K) or a portion of their RMD to their church or other charity. The total dollar amount transferred directly to non-profits does not get added to the individual’s taxable income. This has become a popular method of tithing over the last few years since itemization of deductions has become less beneficial with the increased standard deduction. Many of the large custodians of IRAs (i.e. Vanguard, Fidelity, Schwab, etc.) or your financial advisor are now well versed to assist with executing your QCD. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for tax, legal, or accounting advice. You should consult your own tax, legal, and accounting advisors before engaging in any transaction.