donate to ECF with a contribution from your IRA

If you’ve reached age 70-1/2, one way to support charitable organizations like ECF is to transfer up to $100,000 each tax year directly from your taxable IRA.

transfering IRA funds to ECF

Please consider if a qualified charitable distribution from your IRA may be an opportunity to fund ECF’s community investments and support our ongoing work toward the best possible outcomes for all of Evanston. The transfer gift can be directed to the Now! Fund or to any other fund at ECF, as long as it isn't a donor advised fund. You might consider establishing an endowed fund to benefit Evanston for years to come.

guidelines

Your contribution, known as a qualified charitable distribution or ‘QCD’, is transferred directly from your IRA to one or more charities. The total amount distributed, up to a maximum of $100,000, is removed from your taxable income. This treatment is especially advantageous if you do not itemize your deductions and would not otherwise receive a federal charitable income tax deduction.

If you have reached the age at which you are required to begin taking distributions from your taxable IRA - often referred to as Required Minimum Distributions or "RMDs" - these qualified charitable distributions can count toward your RMD. Under the SECURE Act passed in 2019, RMDs commence at age 72.

process

The process of implementing a charitable rollover contribution begins with your IRA provider. But first, please consult your financial advisor to determine if a QCD is the right option for you in 2021. If you have questions about how to direct your gift to ECF, or if you’d like to use an IRA QCD to establish an endowed fund at ECF, please email or call (847-492-0990) Cynthia Dominguez, Vice President of Finance and Operations, or Rebecca Parmet, Vice President of Development.