715-386-9490

TAX BREAK OPTION FOR PHILANTHROPIC SENIORS

Updated: Aug 15, 2019

St. Croix Valley Foundation (SCVF) helps donors support programs and nonprofits throughout our region. SCVF often works with donors’ financial advisors and tax specialists to ensure that gifts are made in a manner most advantageous for each contributor’s individual circumstances. The Foundation then works to administer those philanthropic funds to meet the goals and wishes set forth by the donor.


There are many tools available to help donors achieve their philanthropic goals. One tool is the use of a qualified charitable distribution (QCD) from an Individual Retirement Account (IRA) that can be made directly to an eligible charity. As Kiplingers writes, “Retirees can get tax break for donating up to $100,000 to a charity directly from a traditional IRA….A QCD allows taxpayers claiming the standard deduction to get a tax break for giving to charity.”


Owners of IRAs who are at least age 70 ½ can contribute some or all of their IRAs to charity (maximum of $100,000 in any one year). Distributions may be used to fund scholarship, field-of-interest funds, and designated funds (but not donor advised funds).


If this philanthropic option piques your interest, contact your financial advisor or St. Croix Valley Foundation.

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Copyright 2020    St. Croix Valley Foundation

Phone:  715-386-9490

info@scvfoundation.org

Fax:  715-386-1250

St. Croix Valley Foundation

516 Second Street (suite 214)

Hudson, WI 54016

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