Make a Qualified Charitable Distribution to Help Kentucky Children
A qualified charitable distribution (QCD) is a tax-advantaged way for eligible IRA owners to support Gateway Children’s Services while helping provide safety, healing, and hope for children and families across Kentucky.
If you are age 70½ or older, you may be able to make a gift directly from your IRA to Gateway Children’s Services. A qualified charitable distribution can provide meaningful support for children while offering potential tax advantages.
Ready to give from your IRA? Continue reading and contact your IRA Administrator.
What Is a Qualified Charitable Distribution?
A qualified charitable distribution, commonly called a QCD, is a direct transfer of funds from an eligible IRA to a qualified charitable organization.
For eligible donors, a QCD can be an effective way to support a favorite charity without first receiving the IRA distribution as taxable income.
Gateway Children’s Services is a 501(c)(3) charitable organization eligible to receive qualified charitable distributions.
Why Consider a Qualified Charitable Distribution?
Giving from your IRA may allow you to accomplish both your charitable and financial goals.
Depending on your individual circumstances, a qualified charitable distribution may:
- Allow you to make a meaningful charitable gift directly from your IRA.
- Count toward all or part of your Required Minimum Distribution (RMD), if applicable.
- Keep the distributed amount from being included in your taxable income when QCD requirements are met.
- Allow you to support children and families using retirement assets you may not need for living expenses.
- Provide an opportunity to make a larger charitable impact.
Tax laws and individual circumstances vary. We encourage you to consult your financial or tax advisor to determine whether a qualified charitable distribution is appropriate for you.
How to Make a Qualified Charitable Distribution to Gateway
Making an IRA charitable gift generally begins with your IRA custodian or financial institution.
1. Contact Your IRA Administrator
Tell your IRA custodian that you would like to make a qualified charitable distribution directly to Gateway Children’s Services.
2. Provide Gateway’s Information
Your financial institution may request our legal name, address, and Federal Tax ID/EIN.
Legal Name: Gateway Juvenile Diversion Project Inc.
Doing Business As: Gateway Children’s Services
Federal Tax ID/EIN: 61-1033836
Address: 37 North Maysville Street, Mount Sterling, KY 40353
3. Request That the Gift Be Sent Directly to Gateway
To qualify as a QCD, specific IRS requirements apply to how the distribution is made. Your IRA administrator or financial advisor can assist you with completing the transfer correctly.
4. Let Us Know About Your Gift
IRA distributions sometimes arrive without enough information for us to identify the donor. Letting Gateway know that your gift is on its way helps us properly acknowledge your generosity.
Contact Gateway Children's Services About an IRA Gift: Email Lynda Taylor, Director of Development at L.taylor@gatewaychildren.org
Your IRA Gift Can Make a Difference
A qualified charitable distribution to Gateway Children’s Services can help provide resources, care, and opportunities for children and families.
Your support can help provide:
- Safe housing and care for children and teens
- Trauma-informed behavioral health services
- Therapeutic foster care and support for foster families
- Educational resources and academic support
- Clothing, school supplies, hygiene products, and other necessities
- Life-skills and enrichment opportunities
- Family support and prevention services
- Opportunities that help young people build confidence and prepare for their futures
Your retirement assets can become an investment in a child’s future. Support Kentucky Children Through Your IRA.
Qualified Charitable Distribution Frequently Asked Questions
How old do I need to be to make a QCD?
Generally, an IRA owner must be age 70½ or older when the qualified charitable distribution is made.
Can a QCD count toward my Required Minimum Distribution?
For donors who are required to take an RMD, an eligible qualified charitable distribution can generally count toward all or part of that requirement.
The age for making a QCD and the age at which RMDs begin are not necessarily the same, so consult your financial or tax advisor regarding your situation.
Is a QCD tax-deductible?
A qualified charitable distribution generally is not also claimed as a charitable income-tax deduction. Instead, when QCD requirements are satisfied, the eligible distribution is generally excluded from taxable income.
Consult your tax advisor regarding your individual circumstances.
Does the money have to come directly from my IRA?
Specific requirements apply for a distribution to qualify as a QCD. Work with your IRA custodian or financial advisor to make sure your gift is completed properly.
Can I make a QCD from my 401(k)?
Qualified charitable distributions generally are made from eligible IRA accounts rather than directly from employer-sponsored retirement plans such as a 401(k). Your financial advisor can help determine what options are available based on the type of retirement account you have.
Can I designate my IRA gift for a particular Gateway program?
If you are interested in supporting a particular program or initiative, please contact Gateway Children’s Services before initiating your gift. We would be happy to discuss current needs and giving opportunities.
Can my spouse also make a qualified charitable distribution?
If your spouse has an eligible IRA and independently meets the QCD requirements, your spouse may also be able to make a qualified charitable distribution. Consult your tax or financial advisor regarding eligibility and applicable limits.
Turn Your IRA Into Hope for a Child
You spent years building your retirement savings. A qualified charitable distribution gives eligible donors an opportunity to use a portion of those resources to make a difference for children today.
Your gift can help a child find safety during a difficult time, receive support to heal from trauma, succeed in school, experience new opportunities, and build hope for the future.
Make Gateway Children’s Services part of your charitable giving through your IRA and make a difference for children and families.
Need Help With an IRA Charitable Gift?
We are happy to provide the organizational information you or your financial advisor may need to initiate a gift.
Gateway Children’s Services
37 North Maysville Street
Mount Sterling, KY 40353
Phone: 859-390-3351
Email: L.taylor@gatewaychildren.org
Legal Name: Gateway Juvenile Diversion Project Inc.
DBA: Gateway Children’s Services
Federal Tax ID/EIN: 61-1033836
Gateway Children’s Services does not provide legal, tax, or financial advice. Please consult your attorney, tax professional, or financial advisor to determine how charitable giving strategies apply to your individual circumstances.
