Learn How To Make A Tax-Free Donation From Your IRA

If you are age 70½ or older, you may be able to support the Collinsville Area Community Foundation with a gift directly from your IRA. This is called a Qualified Charitable Distribution, or QCD. The amount you give generally stays out of your taxable income, which may lower your tax bill—even if you don’t itemize deductions. If you must take a required minimum distribution from your IRA each year, a QCD can count toward that requirement.

To get started, ask the company that holds your IRA to make a payment directly to the Collinsville Area Community Foundation.  The payment must come from your IRA and be payable directly to the foundation to qualify. 

Contact us for the information you’ll need to arrange your gift and check with your financial advisor or tax professional to see whether a QCD is right for you.