A Qualified Charitable Distribution (QCD) from your IRA
may be a tax-wise option if you are 70 ½ or older

Here’s how it works:
Mary, age 73, will be required to take $24,000 from her IRA this year. She does not need the money, and is concerned about paying the taxes. Mary has been considering making a substantial gift to support the Struthers Library Theatre Fund and the Warren Public Library Fund at the Community Foundation of Warren County. So Mary authorizes the administrator of her IRA to transfer $20,000 to the Community Foundation divided between the Struthers Library Theatre Fund and the Warren Public Library Fund, and $5,000 to her. That $20,000 counts toward her annual required minimum distribution, but she does not have to pay tax on it as long as it goes directly to the Community Foundation.+

Your Benefits
• You can transfer up to $100,000 a year to charitable organizations
• The charitable distribution counts toward your minimum required distributions for the year
• The amount transferred is excluded from your adjusted gross income (AGI)

To Qualify
• You must be age 70 ½ or older at the time of the gift
• Transfers must be made directly from a traditional IRA by your IRA trustee
• Gifts must be outright and the donor cannot receive any goods or services in exchange for the contribution

To learn more please contact:
Mark A. King
(814) 726-9553
cfwc@westpa.net
Community Foundation of Warren County,
310 Second Avenue, Warren, PA 16365
Qualified charitable distributions are not eligible for a charitable tax deduction since they are exempt from income tax. Please consult your tax advisor to confirm how you would benefit from this opportunity.