Your IRA can provide a tax-smart way to make an impact with Northern Illinois University Foundation now. The Qualified Charitable Distribution or QCD (sometimes called an “IRA Charitable Rollover”) is a great way to make a tax-free gift now to Northern Illinois University Foundation and satisfy your Required Minimum Distribution (RMD), too.
How Do I Qualify?
The Qualified Charitable Distribution (QCD) offers multiple benefits for making gifts from your IRA.
- You must be 70½ years or older at the time of the gift.
- To qualify as a Qualified Charitable Distribution (QCD), the gift must come directly from your IRA. Your IRA administrator can either send the check directly to the Northern Illinois University Foundation or send it to you, made payable to the Foundation, for you to forward.
- For 2025, total QCD gifts cannot exceed $108,000 per donor.
Benefits of Qualified Charitable Distribution
- If you don’t itemize your income tax deductions, a QCD offers all of the benefits of an itemized income tax charitable deduction
- If you are age 73 or older and must take a Required Minimum Distribution RMD, a QCD gift can satisfy your RMD without increasing your income taxes.
- You may direct your gift to a program or area of your choice.
- It is a wonderful way to create an immediate impact on Northern Illinois University Foundation.
How Can I Make an IRA Charitable Rollover?
Contact your IRA administrator to request a Qualified Charitable Distribution from your IRA to NIU Foundation.