Giving Through Your IRA

Giving Through Your IRA

Make an Impact Today

The Qualified Charitable Distribution (QCD) is a terrific way to make a tax-free gift to Brigham and Women’s Hospital using your qualified retirement plan.

How Do I Qualify?

  • You must be 70½ years old or older at the time of the gift
  • Gifts must go directly from your IRA to the Brigham
  • Gifts must come from a traditional IRA account
  • Gifts cannot exceed $100,000 per donor per year (married couples can give $200,000)

Benefits of a QCD

  • If you don’t itemize, a QCD offers all the benefits of an income tax charitable deduction.  Your gift to the Brigham is tax-free.
  • Gifts can satisfy your RMD (if you are age 73 or older and required to take withdrawals from your IRA) without increasing your income taxes
  • There is no charitable deduction but you will not pay taxes on your QCD withdrawal when gifted to the Brigham
  • You may direct your gift to a hospital program or area of your choice
  • It is a wonderful way to create an immediate impact in the lives of patients and their families

Your IRA administrator can help you make a qualified charitable distribution from your IRA. Contact your financial plan administrator to complete the necessary forms and comply with the procedures required to initiate a transfer directly to charity. Often times, these forms can be completed online.

For more information please review our Frequently Asked Questions or contact:

Leigh Janczak
617-424-4254
ljanczak1@bwh.harvard.edu