Gifts from Your IRA (a Qualified Charitable Distribution)
Did you know? You can transfer funds from your IRA directly to WUCF. This is called a Qualified Charitable Distribution (QCD). QCDs are an effective way to have an immediate impact on the future of public media while also potentially reducing the amount of income tax you owe.
Because the IRS requires that you receive no goods or services in exchange for your QCD, you are not eligible to receive thank you gifts when making a gift from your IRA.
Here is the information you'll need for your IRA Qualified Charitable Distribution:
Legal Name: The UCF Foundation
Mailing Address: WUCF
Attn: Development Department
12461 Research Parkway, Suite 550
Orlando, FL 32826-3203
Here’s how it works:
● You must be 70.5 or older.
● An individual may give up to a total of $100,000 per year; a married couple may give up to $200,000.
● Your gift must be transferred directly from the IRA account to WUCF & The UCF Foundation.
● You pay no income taxes on the QCD. This means that the gift generates neither taxable income nor a tax deduction, and you can benefit even if you don’t itemize deductions.
● Since the gift doesn’t count as income, it may potentially reduce your annual income level. This could help lower Medicare premiums and decrease the amount of Social Security that is subject to tax.*
● If you are 72 and older, the transfer of funds counts towards your annual Required Minimum Distribution* from your IRA.
If you’re interested in this popular way to support WUCF and have questions, contact Melissa Braillard at firstname.lastname@example.org or 407-823-1777 to learn more.
* Please rely on advice from your financial advisor or tax professional to understand how laws and regulations governing retirement plans, Medicare, and Social Security may impact you.