Did you know that you could reduce your taxable income by donating your required minimum distribution (RMD) to
a qualified charity?
- Only applies to IRA owners after they are 70½
- Does not apply to distributions from employer plans
- Only applies to direct transfers to qualified charities (NOT private grant-making foundations, donor advised funds or charitable gift annuities).
Community Foundations are public charitable foundations and, as thus, are eligible to receive RMD donations into any endowment, fiscal sponsorship or field of interest fund. Contact your financial planner for details on how to take advantage of this opportunity.