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Qualified Charitable Contribution

Support stepping stones With a qualified charitable distribution from your IRA.

Many members of the Stepping Stones community have chosen to make gifts to the school through a Qualified Charitable Distribution (QCD) from their IRA. Through this financial tool ourur school has received gifts to purchase property, gifts for our tuition assistance fund, and unrestricted gifts. These gifts provide opportunities for Stepping Stones to grow, reach children who wouldn’t be here otherwise, and repair or improve our facilities.

What is a qualified charitable distribution (QCD)?

Upon reaching the age of 70½, all IRA owners are required to being making minimum withdrawals from their IRA. Any money withdrawn is considered income and subject to income tax. However, a gift directly from the IRA to a qualifying charity, known as a QCD, is not exempt from income tax. QCDs can be counted toward satisfying your required minimum distributions (RMDs) for the year if certain criteria are met.

Should i consider making a QCD?

If you are over age 70½ and own an IRA, a QCD may be beneficial to you and to the school. Each person’s financial situation is different, and before making a QCD, it is best to consult your financial advisor or accountant. Learn more about QCDs at the IRS site.

How do i make a QCD to stepping stones montessori?

In order to qualify, a QCD must come directly from the custodian of the IRA to the charity. Every financial institution has its own process and forms for initiating a QCD. Either your financial planner or your financial institution should be able to assist you in making a QCD. The distribution will then come directly to Stepping Stones Montessori. If you’d like to direct your gift to a particular fund or cause, please contact Elizabeth Topliffe to designate your gift.