Qualified Charitable Distributions from your IRA

If you wish to make a Qualified Charitable Distribution, contact your IRA custodian.

Charitable Organization Name: Worcester State Foundation, Inc.
PO Box 20248 Worcester, MA 01602
Tax ID #: 22-3248067

How to set up a QCD (Qualified Charitable Deduction): Any IRA owner who wishes to make a QCD should contact their IRA trustee well before the end of the calendar year so the trustee will have time to complete the transaction before the end of the year. Normally, distributions from a traditional IRA are taxable when received. With a QCD, however, these distributions become tax-free as long as they’re paid directly from the IRA to an eligible charitable organization (in this case the Worcester State Foundation).

QCDs must be made directly by the trustee of the IRA to The Worcester State Foundation. An IRA distribution, such as an electronic payment made directly to the IRA owner, does not count as a QCD. Likewise, a check made payable to the IRA owner is not a QCD. Each year, an IRA owner age 70½ or over when the distribution is made can exclude from gross income up to $105,000 of these QCDs.