About Qualified Charitable Distributions
A Qualified Charitable Distribution (QCD) is a tax-efficient way for individuals who are age 70 ½ or older to make gifts directly from their Individual Retirement Account (IRA).
QCDs can count towards satisfying an individual’s Required Minimum Distribution (RMD) for the year, which is the minimum amount that an individual must withdraw from their IRA each year once they reach age 73.
Benefits
- Reduce taxable income
- Counts towards your Required Minimum Distribution for the year
- Make an immediate impact on our mission
How it works
- Using this form, provide your contact information and donation details, including financial institution and gift amount (up to $108,000).
- Download, complete, and submit your forms to your financial institution using the instructions provided.
- Once your financial institution receives the forms, the funds are usually transferred to us in about 5-10 business days.
- Enjoy the benefit of a tax-free distribution from your IRA, contributing towards your Required Minimum Distribution and potentially reducing tax liability.
You will not receive a charitable income tax deduction for a Qualified Charitable Distribution.
Make your QCD gift quickly and hassle-free, today
In under 10 minutes you will be guided through the entire donation process, no sensitive information required.
On December 29, 2022, the SECURE 2.0 Act became law. This legislation updates language from the 2019 SECURE Act and implements changes intended to strengthen the retirement system. This QCD tool is updated to reflect relevant changes.
If you are 70.5 or older, giving from your IRA can help reduce your taxable income — and for those over 73 who must take a Required Minimum Distribution (RMD), an IRA gift is a simple way to fulfill it! By using the link below to give from your IRA, you can auto-complete your paperwork and we can track your gift to send you the proper tax receipts. We’ve partnered with a free and secure online tool that makes it easy to make this contribution and support our community in a way that’s beneficial to you. No sensitive personal information is required and it only takes a few minutes. Get started today.
Benefits of a Qualified Charitable Distribution: Any amount processed as a QCD counts toward your Required Minimum Distribution (RMD) requirement. Reduces the taxable amount of your IRA distribution by lowering both your adjusted gross income and taxable income– resulting in a lower overall tax liability. Receive a tax benefit even if you take the standard deduction Married couples who file jointly can transfer up to $200,000 per year as a QCD Gifts from 401k, 403b, SEP and other plans do not qualify.
Ask your financial advisor if it would be right for you to create a traditional IRA account so you can benefit from the IRA Charitable Transfer. This information is not meant as tax or legal advice. Be sure to check with your financial advisor to determine whether this gift plan is right for you. Your IRA administrator must make transfers directly from your traditional IRA account to Bard College.
To make a QCD gift, contact your IRA custodian. To ensure proper crediting of your gift, please notify the Gift Recorder of your intended donation and any special instructions regarding the purpose of the gift. Call 845-758-7861 or email giftrecorder@bard.edu.
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: Debra Pemstein
Title :Vice President of Development & Alumni/ae Affairs
Phone: 845-758-7405
Email: pemstein@bard.edu
Already included us in your estate plan? Let us know
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 planned gift. Learn more, or get help starting your will (for free!).
Beneficiary designations
Gifting assets not covered by your will — like 401(k) or IRA accounts — may help your heirs avoid unwanted taxes, even if you’re below the estate tax threshold.
Gifts that pay you back
Give assets while providing yourself or others with income for a period of time or distributions at a later date.