Charitable IRA Rollover
If you have significant assets in your IRA and you are over 70 ½, you can make a Qualified Charitable Distribution (QCD), also known as a charitable IRA rollover gift, directly to Lighthouse Guild, of up to $100,000 each year. And, if you are over age 72, your gift will satisfy your required minimum distribution (RMD).
Distributions from an IRA are normally subject to income tax, but by having your distribution directed to Lighthouse Guild, it will not be subject to income tax. Please note, however, for those of you who itemize deductions, you will not be able to take a charitable income tax deduction for this direct gift.
To make a Qualified Charitable Distribution from your IRA, instruct your IRA administrator to make a direct transfer to Lighthouse Guild, at 250 West 64th Street, New York, New York 10023.