Qualified Charitable Distribution — a permanent giving option

Many donors feel that directly transferring funds from IRAs is a great way to help families and create a legacy. This is now a permanent option.

• You must be 70½ or older.

• An individual may transfer up to a total of $105,000 per year, and a married couple may give up to $210,000.

• An individual may take a one-time QCD of up to $53,000 to fund a charitable gift annuity (CGA) or charitable remainder trust (CRT).

• Your gift must be transferred directly from the IRA account to Habitat.

• Your generous gift is a transfer of funds from your IRA to MSAC, which means it does not create taxable income for you and is not considered a charitable tax deduction. This ensures that your donation is utilized to its fullest potential.

• The transfer of funds counts toward your annual Required Minimum Distribution* from your IRA.

If you would like to use this popular way to support Monroe Street Arts Center, download a sample letter for your IRA administrator here. Be sure to request that your name and member ID number is included on the check from your financial institution.