If these acronyms don’t look like a jumble of alphabet soup, then this post is for you! We have recently had several members call with questions about making donations directly from an IRA to support the Mono Lake Committee. Here is a little more information if this is something that interests you.
The charitable IRA rollover, or qualified charitable distribution (QCD), is a special provision allowing particular donors of age 70½ or older to exclude from taxable income—and count toward their required minimum distribution (RMD)—certain transfers of Individual Retirement Account (IRA) assets that are made directly to public charities, including the Mono Lake Committee.
Since it was first made available in the tax year 2006, many donors have used this option to support charities of their choice with tax-wise gifts ranging from $100 to $100,000.
If you would like more information about making a gift to the Mono Lake Committee from your IRA, please email me or give me a call at (760) 647-6595 x112.