Qualified Charitable Distribution

A Qualified Charitable Distribution (QCD) (also referred to as Charitable IRA Rollover Gifts) is an excellent way to show your support for St. Anthony of Padua Catholic Church and receive tax benefits in return. Whether you are planning your required minimum distribution (RMD) or not, consider making a gift from your traditional IRA to make the most of your charitable giving. 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 gift plan with your advisor.

TO QUALIFY

• You must be a minimum of 70 ½ or older (varies based on birth date) to transfer up to $100,000 directly from IRA plans to a qualified 501c3 charity on an annual basis.

• Distributions must be made directly from traditional IRA and Roth IRA plans by your IRA administrator.

• Gifts must be outright, meaning they go directly to St. Anthony of Padua Catholic Church. Our EIN is 76-0545136. 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

• IRA Qualified Charitable Distributions are excluded from gross income for federal income tax purposes on your IRS Form 1040. In 2024 the maximum is set at $100,000.

• For those who are at least 72, QCD’s can satisfy all or part of your Required Minimum Distribution (RMD).

• You could avoid a higher tax bracket that might otherwise result from adding an RMD to your income.

ADDITIONAL DETAILS

Provide instructions on the St Anthony Fund you would like your donation applied to:

• General Fund

• Parish Endowment

• Food Pantry

• Other

Have your IRA Administrator direct your donation to:

St. Anthony of Padua

Attn: Development

7801 Bay Branch Drive

The Woodlands, TX 77382

If you would like more information about planned and tax-advantaged giving, please contact

Joe Corona @ jcorona@ap.church 

St. Anthony of Padua encourages donors to consult their retirement plan administrator, or their tax or financial advisor to determine whether this option would be advantageous based on your individual financial and tax circumstances.