Qualified Charitable Distributions provide a means for donating while avoiding taxes. At 70 ½ those with eligible retirement plans must take a required minimum distribution. Those distributions incur taxes. However, if you direct your financial advisor to direct a portion or all of your distribution (up to $100,000) to the Foundation, the Foundation receives 100% of the gift and you avoid paying taxes on the amount donated. It is critical to remember that the gift must come directly from your account. You cannot withdraw the amount and write a check to make the donation. If you do, the amount you withdrew will be taxed.
To discuss how you would like your Qualified Charitable Distribution allocated, please contact the Foundation. 269.673.8344.
To be sure this is beneficial to you, please be sure to speak with your financial advisor.