Turn your life savings into saving lives.
When you make a charitable contribution to Switchpoint through your IRA, you will drastically change the lives of homeless individuals and families and receive great tax benefits as well!
What is a Qualified Charitable Distribution?
A Qualified Charitable Distribution (QCD), is a great option for people 70 1/2 years of age and older. It allows you to make a gift — up to $105,000 total to one or more charities directly from a taxable IRA instead of taking the required minimum distribution (RMD)— and the distribution will not count as taxable income to you.
A QCD is a direct contribution made from your IRA to a public 501(c)3 charity like Switchpoint. Your contribution is excluded from your taxable income and can’t exceed $105,000 annually.
How QCDs Work:
QCDs are also called IRA charitable distributions or IRA charitable rollovers. They enable individuals to fulfill some or all of their required minimum distribution by a direct transfer of up to $105,000 to charity. Because QCDs don’t increase taxable income, both higher tax rates and phaseouts may be avoided.
Who benefits most from a Qualified Charitable Distribution?
Those with significant assets in an IRA or those who don’t deduct charitable gifts benefit the most from a Qualified Charitable Distribution. QCD’s count toward required minimum distributions.
Is my QCD gift deductible?
No. The gift from your IRA would be excluded from your income, so there are no additional deductions.
How does my QCD help those experiencing homelessness?
Every gift no matter how large or small helps change the lives of homeless individuals and families. When you make a contribution to Switchpoint from your IRA you’ll be supporting life-changing programs that set clients on a new track toward hope, confidence, and self-sufficiency.
Please consult your financial advisor/tax professional for more information and advice that works best for you.