IRA Qualified
Charitable Distribution

IRA Qualified
Charitable Distribution (QCD)

A qualified charitable distribution (QCD) from an IRA is a good way for those aged 70½ and over to support Pine Street Inn.

Giving through an IRA QCD has several benefits:

  • It is easy to do! Instruct your IRA custodian to make a distribution directly to Pine Street Inn.
  • It is tax free! Rather than getting a tax deduction, the distribution is excluded from your income for federal tax purposes. Up to $100,000 of your gift (annual aggregate limit for 2023) qualifies for this favorable tax treatment.
  • It counts towards your Required Minimum Distribution (RMD)! A QCD from an IRA counts toward your RMD if one is due. Contributions to your IRA after age 70½ can impact the amount eligible for a tax-free transfer.

A new QCD option to consider
Starting in 2023, IRA owners age 70½ or older can make a one-time, tax-free IRA distribution of up to $50,000 (in 2023) to create a new charitable gift annuity (CGA) or a charitable remainder trust (CRT). The distribution counts toward your RMD if one is due. This is an option worth considering if you want to make a gift from your IRA and establish a new income stream.

Note that spouses may contribute up to $50,000 each from their individual IRAs into a single CRT or a joint-life CGA. Payments may only go to you and/or your spouse.

We are here to help!
Every situation is different. Please contact Rebecca Titlow, Senior Director of Major and Planned Giving, at 617.892.9182 or for assistance with calculations, to receive a brochure, or to explore other giving options that meet your charitable giving goals. 

Tax ID number: 04-2516093
Address: Pine Street Inn, Attn: Development, 444 Harrison Avenue, Boston, MA 02118