A Qualified Charitable Distribution (QCD) is a powerful and tax-efficient way for individuals aged 70½ or older to support the J Street Education Fund through your Individual Retirement Account (IRA). By sending funds directly from your IRA to the J Street Education Fund, you are able to support our mission without the distribution counting as taxable income.
Why Choose a QCD?
Simplified and Advantageous Tax Benefits: QCDs allow eligible donors to meet their Required Minimum Distributions (RMDs) while excluding the donated amount from their taxable income, providing potential tax advantages.
Simplicity and Ease: QCDs offer a straightforward giving process, making it simple for donors to support the J Street Education Fund while fulfilling their charitable goals.
How to Make a Contribution Through Your QCD:
- Contact Your IRA Administrator: Request a distribution to be made directly to the J Street Education Fund (JSEF) [EIN: 20-2777557]. Ensure the payment is correctly attributed as a QCD to qualify for the tax benefits.
- Notify Us: Inform J Street staff of your QCD donation. Please provide staff with the name of the financial institution that will be issuing the check and the contribution amount to ensure proper acknowledgment and gratitude for your generous support.
Information You May Need to Make a Contribution Through Your QCD:
- Legal Name: The J Street Education Fund
- Tax ID Number: 20-2777557
J Street Education Fund
PO Box 66073
Washington, DC 20035
- Contact: Nick Shulevitz, Director of Development Operations
Phone Number: 202.448.1602
Email: [email protected]
Limitations to Consider:
Age Requirement: Donors must be aged 70½ or older to be eligible for QCDs.
Annual Cap: The maximum amount eligible for QCDs in a tax year is $105,000 per individual. Married couples can each give up to $105,000 per year from their IRA if they each meet the age requirement above.
Eligible Accounts: Only funds from Traditional IRAs and Roth IRAs (under specific circumstances) are eligible for QCDs. Other retirement plans such as 401(k) or 403(b) do not qualify for QCDs.
If you have any questions or need any additional information on giving through a QCD, please contact Nick Shulevitz, Director of Development Operations, at 202.448.1602 or [email protected].