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Even if you don’t itemize, you can exclude from your gross income a Qualified Charitable Distribution (QCD) made directly from your IRA. To qualify, the gift must be made directly from your IRA to the FCNL Education Fund, and must clear your account by December 31 to be counted towards this year’s taxes.

Your IRA custodian may have its own form, email address, or online process to request the transfer. Please ask your custodian to include your name on their check. If you have an IRA with check-writing features, please be aware that your check must be made out to “FCNL Education Fund” and must clear your account by December 31 to count toward your RMD. Please write “rollover” or “QCD” on the memo line of your check.

If you are 72 or older, your QCD will count towards your Required Minimum Distribution (RMD) for the year.

For more information contact or (202) 465-7560.

Note: Recent legislative changes now require non-spousal beneficiaries to withdraw any amount left in the IRA within ten years. To spare your family this tax headache, you may wish to consider passing on different assets to your loved ones, while designating FCNL as beneficiary for your IRA. For more information click here.