Usually when individuals take their required minimum distribution from their Individual Retirement Accounts (IRA), it counts as income for tax purposes. An IRA charitable rollover, also called a Qualified Charitable Distribution (QCD), is an exception. Individuals age 70.5 and older can distribute up to $100,000 each year from their IRAs to their favorite 501(c)(3) charities without counting the distribution as income – this rollover or QCD is not taxable income to the donor. Please consult your accountant.
If you have already established a DAF and would like to direct a contribution to Gleaners Food Bank of Indiana, please send it to:
Gail Lowry
Gleaners Food Bank of Indiana
3737 Waldemere Ave
Indianapolis, IN 46241
Interested in funding a DAF but don’t know where to start? Please contact Gail Lowry, Chief Philanthropy Officer, at (317) 829-1771.