IRA Distribution | Lllcf

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Support the Library with a qualified charitable distribution from your IRA

satisfy your required minimum distribution
while helping the LIbrary Inspire, Enrich and Change Lives.

What is a Qualified Charitable Distribution?

 

A Qualified Charitable Distribution (QCD) is a distribution of funds from your IRA directly to a qualified charitable organization, such as the Lafayette Library and Learning Center Foundation. Because the gift goes directly to the Foundation without passing through your hands, the dollar amount of the gift may be excluded from your income up to a maximum of $100,000 annually, with some exceptions. 

Who can make a Qualified Charitable Distribution?

Individuals who are 70.5 years or older can make QCDs from traditional IRA's (401Ks are not eligible). Your tax advisor can provide additional information on your particular situation. Many individuals who are required to take money from their IRA but do not need it for living expenses have chosen to make QCDs from their IRAs to support the Library. This may make sense for your too!

How do I make a QCD to the Lafayette Library and Learning Center (LLLC) Foundation?

Your QCD must be made directly from your IRA custodian to the LLLC Foundation on your behalf. Each financial institution has its own process for initiating a Qualified Charitable Distribution. Many retirement plan administrators require you to use their distribution forms and comply with other requirements, so follow your financial institution’s forms and procedures to ensure you receive any potential tax benefits associated with this gift.

To initiate a QCD from your IRA to the LLLC Foundation, your IRA custodian will need the following information: Legal Name: Lafayette Library and Learning Center Foundation. Taxpayer ID# 26-0403799. Address: 3491 Mt. Diablo Blvd., #214, Lafayette, CA 94549. For questions call (925) 283-6513 ext. 102 or email DevelopmentDirector@LLLCF.org

If you have already made a QCD to the Library Foundation, Thank you!  To ensure we are able to properly thank you, please let us know by emailing the Foundation office DevelopmentDirector@LLLCF.org

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