Activate Good with Your IRA: How a Qualified Charitable Distribution (QCD) Can Support Family Promise Cobb

Did you know that your Individual Retirement Account (IRA) can be a powerful tool for good? With a Qualified Charitable Distribution (QCD), anyone over the age of 70 ½ can donate up to $105,000 directly from their IRA to support local projects, scholarships, and nonprofits – all without that money being considered taxable income.

Many retirees face Required Minimum Distributions (RMDs) from their IRAs, which can significantly increase their tax burden. Instead of simply moving funds from one account to another and paying a hefty tax bill, imagine the satisfaction of directing those dollars towards causes you care about, like supporting families in need through Family Promise Cobb.

What is a Qualified Charitable Distribution (QCD)?

A QCD is a direct transfer of funds from your IRA to a qualified charity. This donation not only satisfies your RMD requirement but also allows you to support the causes that matter to you without adding to your taxable income. The best part? You can donate up to $105,000 annually through a QCD.

Why Consider a QCD?

1. Tax Savings: By donating directly from your IRA, you reduce your taxable income, potentially lowering your tax liability.

2. Maximize Impact: Every dollar donated through a QCD goes directly to charitable work, meaning more resources for local nonprofits like Family Promise Cobb, which provides vital services to families experiencing homelessness.

3. Legacy of Giving: A QCD allows you to make a lasting impact on your community and the causes you are passionate about, turning your retirement funds into a force for good.

How Family Promise Cobb Puts Your Donation to Work

Family Promise Cobb provides shelter, meals, and comprehensive support to families facing homelessness. By directing your IRA distribution to us, you ensure that families in crisis have access to the resources they need to regain stability. Your donation helps us provide safe, supportive environments for children and their parents, offering them a brighter future.

Even if you're not in this age group, you might have family members or friends who are. Let them know about this opportunity to make a difference in the lives of Cobb County families.

Take Action Today

If you're ready to activate good with your IRA, reach out to your financial advisor or IRA custodian to learn more about how to set up a Qualified Charitable Distribution. We at Family Promise Cobb would be honored to be the recipient of your generosity.

For more information on how to direct your QCD to Family Promise Cobb, please contact our executive director at asines@fpcobb.org.  Together, we can make a difference, one family at a time.

Don't let your Required Minimum Distribution go to waste – turn it into hope and opportunity for families in need.

Ready to make a difference? Contact us today to learn how your IRA distribution can change lives at Family Promise Cobb