IRAs only/Qualified Charitable Distributions (“QCDs”)

  • What is this?
    Individuals age 70.5 and older can move up to $105,000 per year from their Individual Retirement Accounts (IRAs) directly to their favorite charity or charities without it affecting their taxable income.
  • Who is it a good option for?
    People who are charitably inclined, don’t want or need the income, and don’t want or need their Required Minimum Distribution (required for those age 73 and older)
  • Financial Benefits
    This is a potential income tax (and an estate tax) reduction strategy while being charitable.
  • What do interested parties need to prepare for a meeting?
    First, individuals should contact their IRA plan administrator to start the distribution process. When they’re ready to send the QCD, they can have the check made payable to “UPPER VALLEY HAVEN” and mail to: UPPER VALLEY HAVEN’s addressNext, the person should notify the UPPER VALLEY HAVEN Gift Recording office at PHONE NUMBER or email EMAILADDRESS of the intended gift along with the following information: Name, gift amount, anticipated date of check arrival, and name of IRA custodian.

401K/403B/457

  • What is this?
    Workplace retirement plans (401K is for-profit, 403B is non-profit, and 457 is government) where a nonprofit can be named as a beneficiary paid on death of the individual.
  • Who is it a good option for?
    For those who are charitably inclined but want to keep their bequest intentions revocable for now.
  • Financial Benefits
    This gift would NOT be included as part of one’s estate and therefore would not be taxed as income, either.
  • What do interested parties need to prepare for a meeting?
    An individual should bring any beneficiary change forms from the relevant retirement plan custodians. UPPER VALLEY HAVEN can offer suggested language for this person to complete and file.

Questions? Want to Start a Conversation?

Contact Laura Gillespie today at:
laura@uppervalleyhaven.org
(802) 478-1806

Other Ways to Give

Non-cash gifts allow donors to make a significant impact on their favorite causes, but most nonprofits aren’t equipped to accept goods such as real estate, privately held stock, etc. We make it easy to turn your goods into charitable gifts.