Qualified Charitable Distribution to Gift Annuity Transfer
You may be looking for a way to help further our mission and enhance your income. If you are 70½ or older, you can make a one-time Qualified Charitable Distribution (QCD) to fund a charitable gift annuity and receive fixed payments for life.
Benefits of a QCD to gift annuity
- Reduce your taxes with a one-time transfer of up to $55,000 from your IRA to a Gift Annuity
- Receive lifetime fixed payments for you and, if you choose, for your spouse
- Potentially reduce your required minimum distribution (RMD) this year
- Help further the work and mission of Scripps Health
How a QCD to gift annuity works
- Contact us about creating a QCD to gift annuity with Scripps Health.
- Contact your IRA plan administrator to make a one-time QCD of up to $55,000 from your IRA to Scripps Health.
- We will use your QCD gift to fund your gift annuity payments.
- Please note that QCD gifts do not qualify for a charitable deduction because the gift amount itself is already excluded from your taxable income.
- After you receive payments for life, there will be a future gift to us.
- Please contact us if you wish your future gift to be used for a specific purpose.
Contact us
If you have any questions about a QCD to gift annuity, please contact us. We would be happy to assist you and answer any questions you might have.
