How a Qualified Charitable Distribution (QCD) From Your IRA Works
1
You are at least 70 ½ years old with IRA funds you no longer need.
2
Make a QCD from your IRA*.
*If you are 73 years old or older, your QCD can count toward your required minimum distribution (RMD)!
3
Your QCD goes directly to City of Hope, supporting breakthrough treatments and research.
Did you know?
You can also support our mission for years to come by naming City of Hope as a beneficiary of your IRA account. You can designate City of Hope to receive a percentage of the account value, leaving the remainder to your heirs.
View City of Hope’s Beneficiary Designation Information
City of Hope, Tax ID 95-3435919
1500 E. Duarte Road Duarte, CA 91010
1500 E. Duarte Road Duarte, CA 91010
Discover the Benefits of a QCD
Reduce Your Taxable Income
When you take funds from your IRA, they count as taxable income. But if you transfer them directly to charity, you reduce your taxable income while satisfying your RMD.
Fulfill Your RMD
After you turn 73, you must distribute funds from your IRA. If you do not distribute the required minimum, you may be penalized, but a QCD allows a transfer up to $100,000 per individual or $200,000 per couple to satisfy your RMD.
Advance Lifesaving Research and Patient Care
When you make a QCD from your IRA to City of Hope, you ensure that City of Hope’s innovative research and compassionate patient care will be available until the day cures for cancer, diabetes and other diseases are discovered.
Tax Law Disclaimer
- The SECURE Act raises the required minimum distribution (RMD) age. If you turn 70 ½ on or after January 1, 2020, you can now wait until you are age 73 before you must take an RMD from your IRA.
- You can still make a gift to City of Hope and other charities through a QCD starting at age 70 ½. However, if you make IRA contributions after age 70 ½, as allowed under the SECURE Act, the amount you have available for QCDs is reduced. Please consult your tax or financial advisor to learn how this may impact you.
- The SECURE Act repeals the maximum age for making IRA contributions. You can now contribute to your IRA even if you are over age 70 ½ (subject to annual limitations).
- The SECURE Act decreases the time over which inherited IRAs may be distributed. Inherited IRAs must now be distributed completely within 10 years of the IRA owner’s death, unless the IRA beneficiary is the surviving spouse, disabled or chronically ill, less than 10 years younger than the owner, or the owner’s minor child. Under these rules, naming City of Hope as a beneficiary of your IRA while using other assets to benefit family members may be a taxwise charitable planning decision.
