Maximizing the Impact of Your Gift Giving Through an IRA Qualified Charitable Distribution to YAMM – Youth Achieving Moral Maturity
Your investment creates a lasting impact on our community's youth, addressing the root causes of poverty, hunger, and educational barriers. Together, we can provide vital resources, enabling young individuals to achieve economic mobility. Your investment in our youth and organization also helps us provide essential health and wellness and human services, ensuring basic living needs and crucial youth and family services are accessible to youth and families in need.
By taking advantage of this option, you can support YAMM while also reducing your taxable income.
Contact your current IRA holding company for more details on QCD rules and how to make an investment through your Qualified Charitable Distribution and set up your QCD to be sent to YAMM to help support our mission.
How To Give Through IRA Qualified Charitable Distribution and QCD Rules to YAMM
You can maximize the impact of your investment gift-giving through an IRA Qualified Charitable Distribution (QCD) to YAMM – Youth Achieving Moral Maturity. By utilizing a QCD, you can make a meaningful contribution while potentially enjoying tax benefits.
What is a QCD?
A Qualified Charitable Distribution (QCD) is a tax-efficient way to make a charitable contribution using funds from your Individual Retirement Account (IRA). Instead of taking a required minimum distribution (RMD) and paying taxes on it, you can direct all or a portion of your RMD to a qualified charitable organization like YAMM.
Why choose a QCD?
A QCD offers several advantages and QCD rules. First and foremost, it allows you to support the mission of YAMM and make a positive impact on the lives of young individuals. Additionally, a QCD can potentially save you money on taxes by excluding the distributed amount from your taxable income. It's a win-win situation where you benefit from contributing to a worthy cause while minimizing your tax liability.
How to make a QCD gift to YAMM?
Giving through your QCD is a straightforward process. Here's how you can get started:
1. Contact your IRA administrator: Reach out to your IRA custodian or administrator to inquire about making a charitable distribution and the QCD rules. They will guide you through the necessary steps and provide the required forms.
2. Verify eligibility: Confirm with your IRA administrator that you meet the eligibility criteria for a QCD. Generally, individuals aged 70½ or older are eligible to make QCDs, subject to specific rules and limitations.
3. Designate YAMM as the recipient: Provide your IRA administrator with the necessary information to ensure that your QCD is directed to YAMM – Youth Achieving Moral Maturity. You may need to provide our legal name, address, and tax identification number (consult your administrator for these details).
4. Initiate the distribution: Complete the required paperwork provided by your IRA administrator, specifying the amount you wish to donate as a QCD to YAMM. Ensure that the distribution is made payable directly to YAMM to qualify as a QCD.
5. Notify YAMM: Once you've initiated the distribution, please let us know about your generous gift. This will help us express our gratitude and ensure that your donation is properly acknowledged for tax purposes.
Remember, a QCD not only benefits YAMM but also provides you with potential tax savings, allowing you to make an even greater impact through your charitable giving.
Give today through your QCD and witness the positive change your contribution can make in the lives of young individuals. Join us in empowering the next generation through our programs and initiatives.
Thank you for considering YAMM – Youth Achieving Moral Maturity for your charitable IRA distribution. Your support truly makes a difference.