IRA Qualified Charitable Distribution
Benefits
- Avoid counting the distribution as income
- Satisfy your required minimum distribution
- Fulfill a pledge
How It Works
An IRA QCD offers financial benefits and allows you to see the difference you’re making at Dartmouth during your lifetime.
Once you reach the age of 70.5, the IRS allows you to donate up to $100,000 per year, tax-free, directly from your IRA to charitable organizations of your choice. If your spouse is also 70.5 years old or older, and has a separate IRA, you each may contribute up to $100,000. The amount of the IRA QCD is limited to the amount of the distribution that would otherwise be included in income.
You’ll have the flexibility to choose where your money goes. You may direct your gift to the Dartmouth College Fund, an option that allows us to use your contribution where it’s needed most, or opt to designate your gift for a specific school, program, or effort on campus that has special meaning to you.
More Details
This giving option, as its name implies, is only allowable through IRAs, not other retirement funds, such as 401(k) or profit-sharing plans. Gifts also may not be distributed to donor-advised funds.
IRA QCDs are not subject to income tax, so they do not qualify for a charitable deduction. The benefits of this planned giving option, as highlighted above, come from reduced taxable income.
Next Steps
First, contact your IRA plan administrator to start the distribution process. When they’re ready to send your contribution, they can make the check payable to “Trustees of Dartmouth College” and mail to:
Office of Gift Recording
Dartmouth College
6066 Development Office
Hanover, NH 03755
Next notify the Gift Recording office at 603-646-0098 or email gift.recording@dartmouth.edu of your intended gift along with the following information:
- Name and, if applicable, class year
- Gift amount and anticipated date of check arrival
- Name of IRA custodian
- How you’d like gift to be used (unrestricted or restricted)
