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Qualified Charitable Distribution (QCD)

If you are age 70 1/2 or older and own an IRA, you may use a portion of it to give to the Catholic Foundation of Oklahoma or to your church, school or favorite ministry by using a Qualified Charitable Distribution. A QCD is a direct transfer of funds from your IRA to a qualified charitable organization. U.S. tax law requires that beginning at age 72, owners of IRAs must make annual required minimum distributions from their accounts. Using a QCD while doing this benefits your charity and it benefits YOU because the amount donated does not count as taxable income. The QCD Giving form can be found here and a downloadable form here.

Contact Mary Smith, the foundation’s gift planning director, if you have questions about this giving option. She can be reached at (405) 709-2706 or at msmith@cfook.org.