Qualified Charitable DistributionQualified Charitable Distribution
(aka Charitable IRA Rollover)
If you are 70½ or older, you can make a tax-free gift directly to KQED from your Individual Retirement Account (IRA) now and for years to come. It's a smart way to enjoy tax savings and support the mission of public media for the Bay Area.
Here's how it works:
- Who? You must be 70½ or older to make a Qualified Charitable Distribution (QCD) to KQED.
- What? You can give up to $100,000 per year from your IRA.
- How? Instruct your IRA custodian to send a specific dollar amount directly to KQED. (You cannot withdraw the funds yourself.) KQED's tax I.D. number is 94-1241309. Your IRA custodian can send the gift by check or electronic transfer. You can contact KQED (see below) for a sample letter of instruction. Please let us know of your charitable intentions so we can ensure your gift is processed in an accurate and timely manner.
- When? Your gift must be completed on or before December 31 in order to count towards your Required Minimum Distribution (RMD) for the calendar year. For those using an IRA checkbook, please remember: the date of gift is when KQED receives the funds in our account, not when the check is postmarked. To avoid penalties for not taking your full RMD, be certain that checks from an IRA checkbook are sent in plenty of time to clear within the calendar year.
Benefits to You:
- RMDs. Your donation will count towards your RMD for the current year. Note that as of January 1, 2020, individuals must start taking RMDs at age 72. (Those who turned 70½ in 2019 must still take RMDs in 2019, 2020 and beyond).
- Tax Savings. You can exclude up to $100,000 of this gift from your federal gross income — resulting in lower taxable income and possible tax savings (A $200,000 exclusion may apply for taxpayers who are married and filing a joint return).
Tip: This tax savings is especially valuable to donors who are non-itemizers and donors who have reached their limit on itemized charitable deductions.
- Impact. You will have the personal satisfaction of benefiting our community more than you may have originally thought possible.
Please consult with your financial advisor about this special opportunity. For more information, please contact the appropriate KQED representative:
Estate Gifts From IRAs
Adding KQED as a retirement account beneficiary is good tax planning. KQED is exempt from income taxes, unlike individual heirs, so your philanthropic impact will go further when you leave an account to KQED. Simply ask the trustee or custodian of your account for a beneficiary designation form and list KQED Inc. KQED's tax I.D. number is 94-1241309.