If you are 70 ½ or older and have an IRA, making a qualified charitable distribution (QCD) to the Southern Environmental Law Center is a tax-smart way to make a donation. The QCD allows you to direct IRA distributions – up to $100,000 per year – to qualified 501(c)3 charitable organizations like SELC. Because the IRA income goes directly to charity, you do not report the distribution as income and do not pay any taxes on the QCD. This may be beneficial if you are 72 or older and forced to take required minimum distributions (RMDs) and don’t need the extra money. In addition to avoiding taxable income, your distribution will support SELC’s critical environmental work.
Keep in mind that the IRS only allows this type of “charitable rollover” from IRAs and not from other retirement plans like 401(k)s or 403(b). QCDs to donor advised funds are also not eligible. If you are currently making pre-tax contributions to your IRA, we recommend that you speak with your financial advisor since this may reduce your ability to apply a QCD towards your required minimum distribution.
You will need the following information in order to make an IRA distribution to SELC:
Legal name: Southern Environmental Law Center
Address: 201 West Main Street, Suite 14, Charlottesville, VA 22902
Tax ID #: 52-1436778
If you have any questions, please contact Deb Donnelly, [email protected], (434) 218-7382. We are grateful for your support!