accountants

A Qualified Charitable Distribution (QCD) allows an IRA owner aged 70 1/2 or older to directly transfer a portion of their Required Minimum Distribution (RMD) from their IRA to a qualified charity. This means the money withdrawn from the IRA is not included in their taxable income while counting toward their RMD for the year.

 Here are a few options for RMD funds. 

1. Create a designated charitable fund to provide yearly grants to specific nonprofits. Any 501c3 qualifies.
2. Create a fund for a specific area of work, for example, youth services, food programs, recreation or supports for specific group of people such as seniors or for LGBTQ.
3. Create a fund for a specific community or geographic area in Snohomish County
4. Contribute to one of CFSCs Community Impact Funds: Arts & Culture; Education; Environment & Animal Welfare; Human Services; Health and Wellness.  

*Due to IRS regulations, donors cannot use a QCD to create a donor advised fund.

Forty percent of high-net-worth individuals indicate that they would be more likely to choose an advisor who is knowledgeable about charitable giving. US Trust “The Philanthropic Conversation.”

Individuals or families can start create a BUILD-A-FUND with just $5,000 per year until it reaches $25,000. Donors can also make a tax-deductible gift of any amount to one of our Community Impact Funds. This option allows donors to support nonprofits doing work in a specific area such as education, the arts, the environment or human services.

Although the Foundation is a public charity, it does not promote one charitable cause.

The Community Foundation provides charitable resources and tools for you, and personalized options for your clients. Community Foundation staff can provide information directly to you or we can be included in client conversations directly. Give us a call and we can discuss.

We are the key to one-stop giving. The Community Foundation can manage multiple charitable goals in one simple fund form that can be easily updated and changed by the Foundation staff without the client having to revise their estate plans or update their will.