“At my age, I’m required to take minimum distributions from my IRA. Since the Claretians make a difference in the lives of so many people, I feel good about making them part of my annual giving plan with a QCD.
— Robert C.
Individual Retirement Account (IRA) – Qualifying Charitable Distribution
Qualified Charitable Distributions (QCDs), also known as IRA Charitable Rollovers, are a smart way for individuals age 70 1/2 or older to use their IRAs to maximize the impact of their charitable giving to the Claretians. The benefits include:
- Reducing your taxable income – funds go directly from your IRA to the Claretians, avoiding incurring income tax on the distribution.
- Satisfying Required Minimum Distributions (RMD) – If you do not withdraw your RMD, you face a penalty tax of 50% of the required withdrawal amount. QCDs can be used to meet your RMD and avoid penalties.
- Maximizing your charitable impact – the Claretians receive the full amount of the tax-free transfer.
Remember, these gifts must be distributed directly by your IRA account. Funds that you withdraw and then contribute do not qualify.
Donor Advised Funds
What is a Donor Advised Fund (DAF)?
A donor-advised fund (DAF) is a charitable giving vehicle which functions similarly to a savings account restricted to charitable giving. A DAF provides an immediate tax benefit to you, and allows you to easily support the Claretians and other charities of your choice over time. Generally, you can invest cash and appreciated securities in a DAF, as well as other assets that the Claretians may not be able to directly accept as a gift.
How do donor-advised funds work?
DAFs are established through your financial institution or a community foundation to serve as a flexible charitable giving vehicle. For more information on how to establish a DAF, contact your financial advisor or community foundation.
A DAF is a simple way to turn your portfolio into an impactful gift to support the Claretian Missionaries.
- Eliminates capital gains on donated stock. Giving accounts have the potential to grow, possibly providing additional funding when you are ready to make a gift.
- You can make recurring gifts with ease, choosing to support special funds or respond to new mission projects and giving opportunities.
- You can quickly put your charitable dollars into action to respond to urgent needs and humanitarian crisis with an immediate grant.
How to give to the Claretian Missionaries through a DAF
- Use this search tool to make an effortless DAF gift:
- Contact your financial institution or foundation.
Your grant will be sent to the Claretians with only the financial institution’s name and address on it, unless you request otherwise.*
- Call your philanthropic advisor or fund manager.
A check or wire transfer from your fund will be sent directly to the Claretians.*
*Please request for your name and address to be included so that we can properly credit your giving profile. We recommend that you contact the Mission Advancement office to inform us of your gift, so we can properly thank you for your generosity.
When granting through your donor-advised fund, please include the following information: