IRA Qualified Charitable Distribution

A qualified charitable distribution (QCD) is a distribution of funds from your IRA (other than a SEP or SIMPLE IRA) directly to a qualified charitable organization, such as the Sisters of IHM. Because the gift goes directly to the charity without passing through your hands, the dollar amount of the gift may be excluded from your taxable income up to a maximum of $100,000 annually, with some exceptions.  Please consult your tax advisor for information regarding your specific exceptions.

QCDs can be made by IRA owners who are age 70 1/2 or older. QCDs made prior to the age you are required to take a minimum distribution from your retirement assets (pre-Required Minimum Distribution QCDs) will not reduce or otherwise impact future Required Minimum Distribution. Your tax advisor can provide additional information on your particular situation.

Many individuals who are required to take money from their IRA but do not need it for living expenses have chosen to make QCDs from their IRAs to support the work of the Sisters of IHM. This may make sense for you too!

Did You Know?

You can also support the Sisters of IHM for years to come. Simply name the Sisters of IHM as a beneficiary of your IRA account, and the remaining assets (or a portion) of the account will be distributed to help us change lives.

Sample Beneficiary Designation

• Legal name: Congregation of the Sisters, Servants of the Immaculate Heart of Mary, Scranton
• Address: IHM Center, 2300 Adams Avenue, Scranton, PA 18509
• Federal Tax ID number: 24-0795454