A Smart Option for Donors 73 and Older

For donors aged 73 or older, a Qualified Charitable Distribution (QCD) from an IRA is an excellent way to support SUNY Oneonta Foundation while providing potential tax savings. Often called an “IRA Charitable Rollover,” a QCD allows you to make a significant impact with your charitable giving, especially if you are required to take a Required Minimum Distribution (RMD) from your IRA each year.

Why QCDs Are Ideal for Donors 73 and Older

When you reach age 73, the IRS requires you to start taking Required Minimum Distributions (RMDs) from your IRA. These distributions are taxable income to you. However, a QCD offers a unique opportunity to fulfill this requirement without increasing your taxable income. By giving directly from your IRA to SUNY Oneonta Foundation, you can satisfy your RMD while making a meaningful contribution to our mission—tax-free.

How You Benefit from a QCD

  • Avoid Additional Taxable Income: Unlike regular IRA withdrawals, which are taxable, a QCD allows you to avoid income tax on your gift. This is especially valuable if you are looking to reduce your tax burden in retirement.
  • Satisfy Your Required Minimum Distribution (RMD): A QCD counts toward your annual RMD, making it a smart choice if you are 73 or older and want to meet IRS requirements while supporting a cause you care about.
  • No Need to Itemize: Even if you do not itemize deductions on your tax return, you can still take full advantage of a QCD’s tax benefits.
  • Direct Your Gift’s Impact: You may choose to designate your QCD to a specific program or area within SUNY Oneonta Foundation that matters most to you, allowing you to make a focused and immediate impact.

QCD Eligibility and Limits

  • Age: You must be 70½ or older.
  • Traditional IRA or Inherited IRA: With rare exceptions, you must make your QCD gift from a traditional IRA or inherited IRA.
  • Annual Limit: For 2026, your QCD gifts are capped at $111,000. This cap applies only to QCD gifts. It does not affect other charitable contributions you might make.

How to Make a QCD to SUNY Oneonta Foundation

  1. Contact Your IRA Administrator: Request a Qualified Charitable Distribution directly to SUNY Oneonta Foundation. This ensures that your distribution is sent tax-free to us.
  2. Notify SUNY Oneonta Foundation: Let us know about your QCD so we can follow up with your administrator if needed and thank you for your generosity.

Consult with Your Advisors

Before initiating a QCD, we recommend speaking with your financial or tax advisor to ensure that this giving option aligns with your financial goals. By taking advantage of the QCD option, you’re not only supporting a mission close to your heart but also maximizing the tax benefits available to you in retirement.

Thank you for considering a generous gift to help sustain SUNY Oneonta Foundation.