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Qualified Charitable Distribution (QCD)
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Support Your Faith Through a Qualified Charitable Distribution (QCD)
If you are age 70 1/2 or older and own an IRA, you may use a portion of it as a gift to the Catholic Foundation of Oklahoma or your parish, school or favorite ministry using a Qualified Charitable Distribution (QCD).What is a QCD?
A QCD is a direct transfer of funds from your IRA to a qualified charitable organization.
It's a tax-smart way to give, especially if you're 72 or older and required by U.S. tax law to take annual Required Minimum Distributions (RMDs) from your IRA. By choosing to make a QCD, you not only support your chosen cause but also reduce your taxable income, as the amount donated does not count as taxable income.How QCDs Benefit Your Charity
- Fulfill your RMD requirements while supporting your faith community.
- Reduce your taxable income by excluding your gift amount from your income.
- Make a lasting impact on the ministries and organizations that matter to you.
To get started, access the QCD Giving Form or download it here.
For more information about QCD giving, contact Mary Smith at 405-709-2706 or at msmith@cfook.org.Federal Tax Id: 73-0773715. - Fulfill your RMD requirements while supporting your faith community.
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