Want to make a big impact on the work of Health Bridges? Have an individual retirement account (IRA)? Make a Qualified Charitable Distribution from your IRA.
A Qualified Charitable Distribution (QCD) occurs when an IRA owner reaches 70.5 years old and makes a distribution directly to a public charity. Well, Health Bridges is a public charity and we greatly appreciate QCDs.
As the donor, you can send us a check or have it sent directly from your IRA to Health Bridges. The amount of the QCD is NOT included in the donors gross income and is not eligible to be a charitable deduction. However, the donor is entitled to the full standard deduction.
Under the new Secure Act, required minimum distributions (RMD) must begin at age 72 and a QCD can be used to meet the RMD requirement. If a donor gives $10,000 to a charitable organization directly from an IRA, and is in the 22% bracket, it saves $2,200 - while still enjoying the full standard deduction which also results in a tax savings.
Want to make a Qualified Charitable Distribution from your IRA to Health Bridges, please connect with us at: Info@HBInt.org