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Lab technician working in the Biophysics Core laboratory.

Qualified Charitable Distributions

Show your support for Versiti and receive tax benefits in return.

Contact Us

Donna Oleniczak

Stewardship & Gift Administration
Email 414-937-6799

Charitable IRA Rollover Gifts


Did you know that the gift of a qualified charitable distribution (QCD) benefits donors aged 70 ½ and up?

As you plan your charitable giving for the year, consider using your IRA account to make the most of your philanthropic donations. You receive a tax benefit even if you take the standard deduction!

It’s important to consider your tax situation before deciding whether to make a charitable contribution from your IRA. Be sure to share this plan with your financial advisor.

Qualifying for a QCD

  • You must be 70 ½ or older at the time of the gift.
  • Distributions must be made directly from a traditional IRA account by your IRA administrator to Versiti Blood Research Institute Foundation (VBRIF).
  • Gifts must be outright, meaning they go directly to VBRIF. Distributions to donor-advised funds or life-income arrangements, such as charitable remainder trusts and charitable gift annuities, do not qualify.
  • Gifts from 401(k), 403(b), SEP and other plans do not qualify. Ask your financial advisor if it would make sense for you to create a traditional IRA account so you can benefit from an IRA qualified charitable distribution.

Tax benefits of a QCD

  • IRA qualified charitable distributions are excluded as gross income for federal income tax purposes on your IRS Form 1040.
  • The gift counts toward your required minimum distribution for the year in which you made the gift. You could avoid a higher tax bracket that might otherwise result from adding an RMD to your income.

Important

Be sure to check with your financial advisor to determine whether this gift plan is right for you. This information is not meant as tax or legal advice.


The planned giving information presented by Versiti is not offered as legal or tax advice.

Qualified Charitable Distributions FAQ's

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Qualified Charitable Distributions

As you plan your charitable giving for the year, consider using your IRA account to make the most of your philanthropic donations.

Learn More
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