On the first Saturday in June, businesses across North Carolina show their support for conservation…
There are many ways to make conservation possible – from volunteering and advocacy to charitable giving. If you are 70½ or older and have an Individual Retirement Account (IRA), a Qualified Charitable Distribution (QCD) can be a simple and tax-smart way to support Triangle Land Conservancy.
A QCD allows you to support TLC directly from your IRA. If you are required to take a distribution but don’t need the funds (or all of them) for your living expenses, a QCD is an excellent opportunity to turn those assets into lasting impact.
Earlier this year, a couple from Raleigh, who have long supported TLC’s mission, made the decision to give in this way for the first time. “The appeal of a QCD is simplicity,” they began. “Once we requested our IRA financial institution to send a QCD to Triangle Land Conservancy, we were done.”
Because the funds go straight to the nonprofit, the distribution does not count as taxable income. "The QCD did not impact or reduce the standard deduction on our tax return,” noted the couple.
To make things even easier, the couple’s financial institution provided an online form for them to initiate their QCD. “Just don’t forget to let TLC staff know when you have requested the charitable donation to be sent to them,” the donors said.
For many supporters, this can be an effective way to contribute to a cause they care about while meeting their financial goals. We invite those who are 70 ½ or older and have a qualifying IRA to join the growing number of QCD donors and support our local lands. Your gift can help ensure that these special places are conserved for generations to come.
What you need to know:
- You must be 70 1/2 years or older when the gift is made.
- The gift must be transferred directly from your IRA to the nonprofit.
- QCDs can help satisfy all or part of your Required Minimum Distribution (RMD).
Have questions about how to make a QCD gift to TLC? Contact Christine Wilson, Senior Director of Advancement at cwilson@triangleland.org or (919) 908-0059.
As with any financial decision, we encourage you to consult with your financial advisor or tax professional to determine whether a QCD is right for you.
