A qualified charitable distribution (QCD) is a tax-efficient way for individuals who are age 70 1⁄2 or older to make gifts directly from their individual retirement account (IRA).

QCDs can count towards satisfying an individual’s required minimum distribution (RMD) for the year, which is the minimum amount that an individual must withdraw from their IRA each year once they reach age 73.

Benefits

  • Reduce taxable income
  • Counts towards your required minimum distribution for the year
  • Make an immediate impact in transforming the lives of children impacted by foster care.

How It Works

  1. Instruct your IRA provider to distribute funds directly to Bloom.
  2. Enjoy the benefit of a tax-free distribution from your IRA, contributing towards your required
  3. minimum distribution for the year.
  4. Potentially reduce tax liability by excluding the distribution amount from taxable income.

You will not receive a charitable income tax deduction for a qualified charitable distribution.


If you have any questions, do not hesitate to contact Katie Weaver, Director of Development.