You probably know RMD stands for “required minimum distribution”—the money you must remove from your individual retirement account each year once you turn 73.

Given the tax hit you take on it each year, though, you may feel it should stand for “remove many dollars.”

It’s understandable that many people loathe the RMD, but did you know you can use it to help something you love?

By making a gift to The Carter Center called a qualified charitable distribution (QCD), you can fulfill all or part of your RMD without getting taxed. We don’t have to pay income taxes on the gift—the entire amount goes to us.

You don’t have to wait until you’re 73 to make a QCD gift to the Center. As long as you’re 70½ or older, you can give up to $111,000 this year to us from your IRA. (The maximum amount will increase each year with inflation.)

If the idea of not leaving your IRA to loved ones worries you, remember that your beneficiaries would still have to pay income taxes on the distributions they receive. But you can leave other assets to your heirs that won’t have the same tax burden, such as investment accounts, real estate, or life insurance.

Another Option That Still Saves on Taxes

If a QCD isn’t right for you now and you’d prefer to make your IRA a legacy gift after your lifetime, you can name us as a beneficiary. It costs you nothing today—and it costs us nothing in taxes when the gift is distributed.

Simply contact your IRA administrator for a change-of-beneficiary form or download a form from your provider’s website and name us and the gift percentage on the form. Please let us know about your plans so we can make sure your gift is used the way you wish.

We’re Ready to Help!

Whether you make your impact at the Center today or after your lifetime, your gift matters. Please get in touch with our Planned Giving Team at 404-420-3868 or 404-420-3860 or [email protected] to discuss your plans.