Qualified Charitable Distribution


How a Qualified Charitable Distribution (QCD) from your IRA Works

1

You are at least 70½ years old with IRA funds you no longer need

2

Make a qualified charitable distribution (QCD) from your IRA

*If you are 72 years old or older, your QCD can count towards your required minimum distribution (RMD)!

▸ Calculate Your RMD

3

Your QCD goes directly to charity, supporting a cause you care about

Did You Know?

You can also support our mission for years to come. Simply name Benedictine College as a beneficiary of your IRA account, and the remaining assets (or a portion) of the account will be distributed to support students at Benedictine College.

View Sample Beneficiary Designation

Legal Name: Benedictine College
Tax I.D. Number: 48-0777079
Incorporated In: Atchison, KS

Discover the Benefits of a Qualified Charitable Distribution (QCD)

Reduce Your Taxable Income

When you take funds from your IRA, they count as taxable income. But if you transfer them directly to charity, you reduce your taxable income while satisfying your RMD.

Fulfill your Required Minimum Distribution (RMD)

After you turn 72, you must distribute funds from your IRA. If you do not distribute the required minimum, you may be penalized, but a QCD allows a transfer up to $100,000 per individual or $200,000 per couple to satisfy your RMD.

Make an Impact for Benedictine’s Students Now

When you transfer IRA funds to Benedictine College, you give students the opportunity to carry on the Benedictine tradition through access to scholarships, state-of-the-art facilities and an outstanding faculty.

The new tax law presented an opportunity to help the College (through an IRA gift) that I had not considered before.

– Charlie SanPetro, ’62

Find Out if a Qualified Charitable Distribution (QCD) is Right For You

Take Your Next Steps

1. Get started by selecting your IRA custodian and filling out your information below. This information will be used to pre-fill your distribution form.

2. Once you have downloaded and completed the rest of your form, please mail the form to your IRA custodian. We recommend mailing this by December 1 to ensure you receive your tax deduction for this year.

3. Please let us know about your generous gift! We’d like to thank you and ensure your gift goes to the program or department you desire.

The content found on this site is general in nature and intended to be used for informational purposes only.
It should not be relied upon as legal, tax, accounting or other professional advice. To determine how a gift or estate planning decision might
affect your particular circumstances, you should consult an attorney, financial advisor or other qualified professional.