How a QCD From Your Individual Retirement Account (IRA) Works
If you’re 70½ or older, you can give directly from your IRA with a QCD. If you’re 73 or older, this can count toward your required minimum distribution (RMD) and may lower your taxable income.
Make a QCD from your IRA by completing the simple form at the bottom of this page.
Your QCD goes directly to City of Hope®, supporting breakthrough treatments and research.
Did You Know?
If you are age 70½ or older, you can make a one-time distribution of up to $54,000 from an IRA or other qualified plan to fund a charitable gift annuity with City of Hope. You’ll receive lifetime payments at a great rate in exchange for your gift, and it counts toward your required minimum distribution. Please contact us at (800) 232-3314 or plannedgiving@coh.org for more details.
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 $108,000 per individual or $216,000 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.
Support City of Hope’s Mission for Years to Come
One way to leave a lasting tribute to your compassion for others is 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.
City of Hope’s Beneficiary Designation Information:
City of Hope, Tax ID No.: 95-3435919
1500 E. Duarte Road Duarte, CA 91010
Tax Law Disclaimer
Under Setting Every Community Up for Retirement (SECURE) Act 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.
- 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.
Find Out if a QCD Is Right for You
You are qualified to make this type of gift!
Take Your Next Steps
Step 1:
Get started by selecting your IRA administrator and filling out your information below. This information will be used to prefill your distribution form.
Step 2:
Once you have downloaded and completed the rest of your form, please mail the form to your IRA administrator. We recommend mailing this by December 1 to ensure you receive your tax deduction for this year.
Step 3:
Please ask your administrator to include your name and mailing address on your distribution letter, and let us know about your generous gift! We would greatly appreciate being informed of your generosity so that we can be prepared to provide a proper and timely IRS acknowledgment. Please note that the IRS does not permit QCDs from an IRA to satisfy event registration fees or membership dues.