Covid-19 Info & Updates
Services are multiplatform (with both in-person and virtual participation available). Masks are required inside when in shared spaces. Masks are not required for small/medium groups who have come to a covenantal agreement. Click to learn more about our Gathering Plan and the overall UUS COVID response. Read more »
IRA Tax-Free Qualified Charitable Distributions
Did you know that anyone over the age of 70 and a half with an IRA can write off charitable donations of IRA income up to $100,000 per year and still take the standard deduction?
A Qualified Charitable Distribution (QCD) is a nontaxable distribution made directly by the trustee of your IRA (other than a SEP or SIMPLE IRA). QCDs can satisfy all or part of the amount of your required minimum distribution from your IRA, so they are an excellent option to make gifts during your lifetime from an asset that might be subject to multiple levels of taxation if it remained in your taxable estate.
Here are the steps to take to make a QCD gift from your IRA:
- Contact your IRA administrator and instruct that person to transfer funds to the charity(ies) you designate. If donating to UUS, our EIN is 42-0928251. (We can provide documentation of our nonprofit status if required.)
- IRA administrators don’t always include the donors’ names on distribution checks. Please let us know in advance so we’ll be able to identify your gift. Also, let us know if you want your gift used for a particular purpose. (acceptance of restricted gifts is subject to our Gift Acceptance policies and procedures).
- We will record your donation in Realm and send you an acknowledgement of your contribution.
- The QCD will be reported on your tax forms from your IRA administrator.
Here is an article from Fidelity on Qualified Charitable Distributions. Please consult your IRA administrator or a personal legal or financial advisor for more information or assistance with QCDs.