Using Your Retirement Assets to Give Generously and Save Money

Mar 27, 2024

If you own an individual retirement account and have reached age 70 ½, you have the option to transfer up to $100,000 to charity each year, tax-free. This strategy, known as a qualified charitable distribution (QCD), allows you to fulfill your required minimum distribution (RMD) obligations while supporting causes important to you. This strategy can save on your income-tax bill and potentially lower your income-based Medicare premiums. Last year, 48 People Incorporated supporters used this strategy to make an impact on mental health care in your community. There is no minimum requirement to distribute.

How to Get Started

If this strategy sounds like something that fits your goals, your financial advisor can help you make a distribution request through your IRA administrator. To make a gift to People Incorporated, you’ll need our EIN number, or tax ID, which is: 41-0962296.

As you consider your charitable contributions, there are many options to utilize your assets to align with your philanthropic goals. If you would like more information on other giving strategies, or would like to discuss your specific situation, you can contact our Development team at give@peopleincorporated.org with questions or to schedule a meeting.

Thank you for your continued generosity and support of our mission – our work isn’t possible without you.