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Make a Gift From My IRA

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IRA Gift

You may be looking for a way to make a big difference to help further our mission. If you are 70 or older you may also be interested in a way to lower the income and taxes from your IRA withdrawals. A Qualified IRA Charitable Distribution (QCD) is a way you can help continue our work and avoid income tax this year.

IRA Gift
IRA (Custodian)
OBCF
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Benefits of a Qualified Charitable Distribution

  • Avoid taxes on transfers of up to $100,000 from your IRA to the Community Foundation
  • Satisfy your required minimum distribution (RMD) for the year
  • Make a gift that is not subject to the deduction limits on charitable gifts
  • Help further our work of providing grants and scholarship through our existing funds, or create a new designated or unrestricted fund to support a purpose of your choosing

How A Qualified Charitable Distribution Gift Works

  1. Contact your IRA plan administrator to make a gift from your IRA to Outer Banks Community Foundation or a qualified component fund (Donor advised funds do not qualify for a charitable deduction).
  2. Your IRA funds will be directly transferred to us to support an area of your choosing: either for a particular cause, a specific fund, to award scholarships, or to underwrite all of our work on the Outer Banks.
  3. Please note that the amount of the gift reduces your annual income, which will reduce income tax liability. Be sure to give this gift information to your tax preparer at tax time.
  4. Please contact us if you wish for your gift to be used for a specific purpose.

Contact us

If you have any questions about an IRA charitable gift, please contact us. We would be happy to assist you and answer any questions you might have.

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