What is a 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 Mercy High School, Burlingame. 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 $105,000 annually, with some exceptions. Please consult your tax advisor for information regarding your specific exceptions.
To learn more about QCDs, please visit IRS.gov »
Who can make a qualified charitable distribution?
If you are aged 70 ½ years or older you can donate up to $105,000 in tax-free charitable donations directly from your IRA.Typically, IRA distributions are taxed, but QCDs are tax-free.
If you are 73 or older, the tax advantages are even more significant! A QCD of any amount up to $105,000 can also count toward the year’s required minimum distribution (RMD). A RMD is the amount that you must withdraw from your IRA annually or face a tax penalty.
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 Mercy High School. This may make sense for you too!
To learn more about eligibility, please visit IRS.gov »
How do I make a qualified charitable distribution to Mercy High School, Burlingame?
Your QCD must be made directly from your IRA custodian to Mercy High School on your behalf. Many retirement plan administrators require you to use their distribution forms and comply with other requirements, so follow your financial institution’s forms and procedures to ensure you receive any potential tax benefits associated with this gift.
To initiate a qualified charitable distribution from your IRA to Mercy High School, your IRA trustee will need the following information:
Legal name: Mercy High School, Burlingame
Taxpayer ID: 94-1230999
Permanent address: Mercy High School, 2750 Adeline Drive, Burlingame CA 94010
For more information, please contact the Advancement Office at advancement@mercyhsb.com or 650.762.1190.