Qualified charitable distributions (QCDs) are great options for making tax-free gifts to Santa Fe Playhouse.
A QCD is a direct transfer of funds from your IRA custodian, payable to a qualified charity like Santa Fe Playhouse. Qualified Charitable Distributions may help lower your adjusted gross income. This means that rather than paying tax on your required minimum distribution, it goes directly to Santa Fe Playhouse.
The Process is Simple
- Choose your gift amount.
- Ask your plan administrator to direct your IRA distribution to Santa Fe Playhouse.
Do You Qualify*?
- Your plan administrator must transfer the funds directly to Santa Fe Playhouse.
- The distribution must be received by the deadline to be counted in the current tax year. Check with your financial advisor for complete details.
- Qualified Charitable Distributions are limited to $100,000 in total during each year.
*This is not tax advice; consult your financial advisor before making any decisions.
- All QCD gifts can be used to satisfy your IRA-required minimum distribution.
- Your QCD gift goes directly to Santa Fe Playhouse and is not subject to income tax.
Sample Letter to your IRA Administrator
Subject: Request for Charitable Distribution from Individual Retirement Account
Dear Sir or Madam:
Please accept this letter as my request to make a direct charitable distribution from my Individual Retirement Account # ___________ (Account Number).
Please issue a check in the amount of $___________ payable to the organization specified below:
Santa Fe Playhouse
ATTN: Colin Hovde
142 East De Vargas Street
Santa Fe, NM 87501
Please also list my name and address as the donor of record in connection with this transfer; and please copy me on your transmittal letter.
If you have any questions or need to contact me, I can be reached at [donor phone number] or by email at [donor email address].
Thank you for your assistance in this matter.