Discover the benefits of a Qualified Charitable Distribution (QCD)
Reduce Your Taxable Income
When you take funds from your IRA, they count as taxable income. But if you transfer them directly to Unbound, you reduce your taxable income while satisfying your RMD.
Fulfill Your Required Minimum Distribution (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 $105,000 per individual or $210,000 per couple to satisfy your RMD.
Transform the World
When you make a qualified charitable distribution from your IRA to Unbound, you will help us empower individuals and their families for generations to come.
How a Qualified Charitable Distribution (QCD) Works
You are at least 70 ½ years old with IRA funds you no longer need
Make a qualified charitable distribution (QCD) from your IRA
Your QCD goes directly to Unbound, supporting the poor and marginalized of the world
*If you are 73 years old or older, your QCD can count towards your required minimum distribution (RMD)!
Here Are the Rules
- You must be 70½ or older.
- An individual may transfer up to a total of $105,000 per year and a married couple may give up to $210,000. These amounts are indexed annually.
- An individual may take a one-time QCD up to $53,000 to fund a charitable gift annuity (CGA) or charitable remainder trust (CRT)
- Your gift must be transferred directly from the IRA to Unbound.
- Your gift is a transfer of funds from your IRA to Unbound, so it does not create taxable income for you and is not considered a charitable tax deduction.
- The transfer of funds counts toward your annual Required Minimum Distribution from your IRA.
Follow These Steps to Make Your QCD
- Request a Qualified Charitable Distribution Form. Get started by requesting a distribution form from your IRA custodian. If you have an IRA checkbook, you can write a check and send it to Unbound, taking the following information into account.
- Complete Your Distribution Form. Complete your distribution form using the following information.
- Important! Direct your financial institution to include your Unbound member ID and your name with your contribution.
- For your convenience and to help reduce Unbound’s administrative costs, consider an annual donation frequency.
- Think about including all your Unbound giving, such as the Birthday and Christmas funds, and support for other programs, such as Scholarship and Critical Needs.
- Have distribution sent to: Unbound, PO Box 219114, Kansas City, MO 64121-9114.
- Unbound tax ID 43-1243999
- Sign and Mail Your Distribution Form to your IRA Custodian. If your distribution form doesn’t offer a space to note your Unbound member ID, download this letter of instruction to mail with your form. It usually takes 10 business days from the day your form is received by your IRA custodian to the day the charity receives the check. If you are trying to complete your QCD for the current tax year, it is best to request your distribution prior to December.
- Let Us Know. Some financial institutions will not identify the donor the IRA gift comes from, meaning that Unbound won’t know who made the gift or if there is a special intent for that gift. Email plannedgiving@unbound.org or call 800-875-6564 ahead of time. We can ensure your gift is used in the way you intend.
Did You Know?
You can also support our mission for years to come. Simply name Unbound as a beneficiary of your IRA account, and the remaining assets (or a portion) of the account will be distributed to help partner with children and families worldwide so that they may create a path out of poverty.
Sample Beneficiary Designation
Legal name: Unbound
Address: 1 Elmwood Ave., Kansas City, KS 66103
Federal Tax ID number: 43-1243999
—Jim & Dianne Cannon, QCD Donors