Using an IRA-QCD to fund a Charitable Gift Annuity
Frequently Asked Questions
QCD-Funded Charitable Gift Annuity (CGA) or Charitable Remainder Trust (CRT) (Life Income Gift)
Who can make this kind of gift?
People seventy and a half years old and older (even when your required minimum distribution starts at age seventy-three.
Is there a limlt to how much I can give?
Yes. An IRA owner can use their QCD to fund one CGA or CRT in their lifetime. In 2024, the QCD limit is $54,000. The amount is adjusted for inflation each year. Scan the QR code for updates on the QCD limit.
Is there a minimum for this type of gift?
ÁñÁ«ÊÓƵ's minimum for a CGA is $10,000. An IRA owner can fund one or more QCD-funded CGAs up to IRS-approved limit in one tax year in their lifetime. ÁñÁ«ÊÓƵ's minimum for a CRT is $100,000. An IRA owner and their IRA-owner spouse can each direct their QCD limit to fund one CRT once in their lifetimes.
How do I make this gift?
Contact the office of Gift Planning for specifics at giftplanning@bowdoin.edu
Are there tax implications?
As long as your gift is made directly from your IRA account, qualifying IRA gifts will not be subject to federal income tax* and will count toward any required minimum distribution. QCD-funded life income gifts (e.g., CGAs or a CRT) cannot be claimed as an itemized charitable deduction. Distributions from life income gifts funded by QCD are treated as taxable ordinary income.
How do I let ÁñÁ«ÊÓƵ know about my IRA gift?
Contact the Office of Gift Planning to establish a life income gift.
Make a Gift Using the IRA Qualified Charitable Distribution (PDF)