If you or your spouse are over the age of 70 ½, you may be eligible to make an annual donation from your Individual Retirement Account (IRA) in the form of a Qualified Charitable Distribution (QCD). This gift is an option for donors who have funds in an IRA that they may not need to use for regular living expenses and can instead use for charitable giving. If you are interested in making a gift through your retirement account, please speak to your plan administrator or financial advisor for guidance.
One of our donors, Ed, has shifted his giving to Michigan Humane to come from his QCD. He explains it this way: “Making a qualified charitable distribution from an IRA can be beneficial to both the donor and Michigan Humane. It is usually a simple process and the donor controls the amount and date of the donation. The rest is then done by whoever is managing the IRA. If the donation goes directly to Michigan Humane, the amount is not considered to be taxable income which may result in lowering your tax liability.” This means QCDs are beneficial for both Michigan Humane and you, as a donor!
If you’re over the age of 70, have an IRA, and are interested in learning more, talk to your financial advisor or contact Heidi Boyd, Planned Giving Officer, via email hboyd@michiganhumane.org or phone (248) 283-5633. Or visit our website here: Donate IRA Distributions to Michigan Humane – Michigan Humane
If you choose to give a QCD to Michigan Humane, please be sure your plan company has our new address on file:
Michigan Humane (Tax ID 38-1358206)
2937 E. Grand Boulevard, Suite 800
Detroit, MI 48202