Gift from your IRA

If you are 70½ years old or older, making a Qualified Charitable Distribution (QCD) from your IRA offers many advantages, and it's easier than you may think.

Benefits:

  • Your QCD is not included in your income, so you are not taxed on it.
  • A QCD is not deductible as a charitable gift, so it is an attractive option when you are going to claim the standard deduction on your income taxes.
  • A QCD counts toward your Required Minimum Distribution, up to $100,000.)
  • A QCD will not increase your annual income level, so it will not increase your Medicare premiums and it may decrease the amount of Social Security that is subject to tax.

 

How to make your gift:
Please consult with your tax planner or financial advisor before making any decisions regarding your IRA

OPTION A: 

Online: We've partnered with FreeWill to give you an online tool to get started on giving from your IRA. It's free to use and will help you calculate your potential tax savings and help you easily complete a gift to the Marians. DO IT NOW

OPTION B: 

Requesting a check from your IRA custodian, using the form it provides:

  1. Use the Tax ID number 20-8599030 for the Marian Fathers of the Immaculate Conception of the B.V.M., 2 Prospect Hill Road, Stockbridge, MA 01262, a qualified 501(c)(3) charity.
  2. It is critical that the check to be payable to the charity and not to you.
    (You may have the check mailed to you and then forward it, but it must be payable to the charity.)
  3. Please notify us of your gift, so that we may credit and acknowledge it properly.

OPTION C: 

Writing a check provided by your IRA custodian for you to make a distribution:

  1. Make the check payable to "Marian Fathers of the Immaculate Conception of the B.V.M." and note "Qualified Charitable Distribution" in the memo line.
  2. Mail your check to Marian Fathers of the Immaculate Conception of the B.V.M., 2 Prospect Hill Road, Stockbridge, MA 01262.

     

  • Please note that the date of your QCD is NOT the date you send the distribution check, but the date that your IRA administrator transfers the funds to the charity. If you want your distribution check to be credited in the current tax year, it is critical that you mail your check several weeks before the end of the year to ensure there is time for the check to be processed and to clear your account. This is especially true if you are relying on your QCD to fulfill your required minimum distribution.

Print information sheet

Useful information for you and your advisors.

Federal Tax Identification number:
20-8599030

Legal name:
Marian Fathers of the Immaculate Conception of the B.V.M.

Address:
2 Prospect Hill Road
Stockbridge, MA 01262

Questions? Contact Ellen Miller at 413-298-1380 or [email protected]