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Notify us of your IRA charitable rollover
If you check the box in this area, a module will open where you can enter your name and email to notify us of your IRA Rollover gift.
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Thank you for considering an IRA charitable rollover gift to us. The website link will take you to your IRA custodian's website, where you may be able to log in and make a gift to the Community Foundation of Louisville. Another option is to use the phone number to call your IRA custodian. They will assist you in making an IRA charitable rollover gift. If you would like to notify us of your generous IRA charitable rollover, please complete the Notify us of your IRA charitable rollover section. Please note this is a time sensitive transaction. If the IRA charitable rollover is intended to satisfy your required minimum distribution for the current year, verify with your custodian that this transaction will be completed prior to December 31. If the transaction is not completed prior to December 31, you may be subject to penalties if you have not satisfied your required minimum distribution. |
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| Thank you for considering a IRA gift to us. A sample letter is available to send to your DAF provider. You may save and print the PDF of your letter. If you have email contact information for your DAF provider, you may send a PDF copy of your DAF letter or you may copy and paste the text into an email. You will need to enter the amount of your recommended grant and your DAF account number on the letter before mailing. If you would like to notify us of your generous gift, please complete the Notify us of your DAF Gift section. | ||||||
IRA Qualified Charitable Distribution
You may be looking for a way to make a big difference to help further your charitable giving. If you are 70½ or older, you may also be interested in a way to lower the income and taxes from your Individual Retirement Accounts (IRA) withdrawals. An IRA Qualified Charitable Distribution (QCD) is a way you can enhance your generosity and benefit this year.
Benefits of an IRA QCD
- Avoid taxes on transfers of up to $108,000 from your IRA to our organization
- May satisfy your required minimum distribution (RMD) for the year
- Reduce your taxable income, even if you do not itemize deductions
- Make a gift that is not subject to the deduction limits on charitable gifts
- Help further your charitable giving
How an IRA QCD works
- Contact your IRA plan administrator to make a gift from your IRA to the Community Foundation of Louisville.
- Your IRA funds will be transferred directly to the Community Foundation of Louisville and will be added to the fund balance of the eligible charitable fund of your choosing.
- Please note that IRA QCDs do not qualify for a charitable deduction.
Eligible Fund Types
There are certain funds at the Community Foundation of Louisville that can receive a Qualified Charitable Distribution:
Before sending your gift, decide if you want to create or add to an existing:
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Immediate Impact Fund, which can last between 1-5 years and supports specific charities in specific amounts you select.
- Gift Minimum: $10,000 to open.
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Designated Fund to support specific charities you identify.
- Gift Minimum: $25,000 to open; existing Funds can accept any size gift.
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Unrestricted Field of Interest Fund, which can support the most appropriate and effective nonprofits within the charitable
field you select, as advised by the Community Foundation.
- Gift Minimum: $25,000 to open; existing Funds can accept any size gift.
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Scholarship Fund, which can provide resources for students based on the selection criteria of your choice. Contact the Community Foundation to be sure your Scholarship Fund is eligible to receive an IRA QCD.
- Gift Minimum: $50,000 to open, existing Funds can accept any size gift.
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Support the Fund for Louisville, a permanently endowed fund managed by the Community Foundation which supports Louisville's most pressing needs.
- Gift Minimum: None.
IRS Regulations prohibit the contribution of a Qualified Charitable Distribution to a charitable Fund where the donor has advisory privileges, including but not limited to a Charitable Checking Fund or Donor Advised Fund. Individuals can always contribute assets from an IRA into these types of Funds, but these contributions must first be recognized as income and are then eligible for a charitable deduction.
Please consult with your tax or financial advisor to discuss your specific financial situation and whether this option is right for you.
Gifts from your IRA
You can use the "Make a Gift From My IRA" tool to contact your IRA custodian and make a QCD to the Community Foundation of Louisville. We will acknowledge your generous gifts as a Qualified Charitable Distribution, which may satisfy your RMD, if applicable.
Contact us
If you have any questions about an IRA QCD gift, please contact us. We would be happy to assist you and answer any questions you might have.
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