Charitable Tax Deductions

As a tax-exempt public charity, most donations to the Foundation are tax-exempt up to IRS limits allowing maximum tax advantages to donors who can limit paying capital-gains tax on appreciated assets and reduce estate-tax liability while supporting nonprofits and charitable causes.

Gifts from Individual Retirement Accounts (IRA): Donating money directly from an IRA to a qualified charity such as a Community Foundation is a Qualified Charitable Distribution (QCD). For donors who must take a Required Minimum Distribution (RMD) from their IRA, using that distribution to make a charitable gift offers tax savings.

Because a QCD excludes the amount donated from taxable income it may reduce the impact to tax credits and deductions including Social Security and Medicare. A donor does not have to itemize to take advantage of a QCD. Due to recent tax law changes the donor may take advantage of the higher standard deduction and use a QCD for charitable giving.

Donors are advised to consult with professional advisors before making a QCD.

Even More Benefits

• Giving one gift that can be disbursed over many years to different charitable causes
• Investing in the communities and helping causes close to home
• Multiplying the impact of donations and inspiring local and lasting change

“I have found that among its other benefits, giving liberates the soul of the giver.” Maya Angelou