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 70 ½ or older.
• An individual may transfer up to a total of $105,000 per year and a married couple may give up to $210,000 to all organizations.
• Your gift must be transferred directly from the IRA account to Brigham and Women’s Hospital.
• Your gift is a transfer of funds from your IRA to the Brigham so it does not count as income for the year.
• If you are 73 and older, the transfer of funds counts towards your annual Required Minimum Distribution from your IRA.

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 or pay off a pledge commitment
• 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 the charity. Oftentimes, these forms can be completed online.

For more information, please contact Kelly Gallagher, assistant vice president of annual giving, at kgallagher20@bwh.harvard.edu or 617 352 2562.