Use Your IRA to Protect the Ocean and Receive Tax Benefits
Learn more about how a qualified charitable distribution (QCD) can benefit you.
If you are 70½ or older and have an IRA, you already qualify!
How a Qualified Charitable Distribution (QCD) Works
You are at least 70½ years old with IRA funds you no longer need
Make a qualified charitable distribution (QCD) from your IRA*
*If you are 72 years old or older, your QCD can count towards your required minimum distribution (RMD)!
Your QCD goes directly to charity, supporting a cause you care about
Did You Know?
You can also support our work for years to come. Simply name Ocean Conservancy as a beneficiary of your IRA account, and the remaining assets (or a portion) of the account will be distributed to ensure a healthy ocean for future generations.
Information for Sample Beneficiary Designation
Address: 1300 19th Street NW, 8th Floor, Washington D.C. 20036
Federal Tax ID number: 23-7245152
Discover the Benefits of a Qualified Charitable Distribution (QCD)
Reduce your taxable income
When you take funds from your IRA, they count as taxable income. But if you transfer them directly to charity, you reduce your taxable income while satisfying your RMD.
Fulfill your Required Minimum Distribution (RMD)
After you turn 72, you must distribute funds from your IRA. If you do not distribute the required minimum, you may be penalized, but a QCD allows a transfer up to $100,000 per individual or $200,000 per couple to satisfy your RMD.
Protect the Ocean
When you make a qualified charitable distribution from your IRA to Ocean Conservancy, you will help us ensure a healthy ocean.
Tax Law Disclaimer
- The SECURE Act raises the Required Minimum Distribution (RMD) age. If you turn 70 ½ on or after January 1, 2020, you can now wait until you are age 72 before you must take an RMD from your IRA.
- You can still make a gift to Ocean Conservancy and other charities through a qualified charitable distribution starting at age 70 ½. However, if you make IRA contributions after age 70 ½, as allowed under the SECURE Act, the amount you have available for qualified charitable distributions is reduced. Please consult your tax or financial advisor to learn how this may impact you.
- The SECURE Act repeals the maximum age for making IRA contributions. You can now contribute to your IRA even if you are over age 70 ½ (subject to annual limitations).
- The SECURE Act decreases the time over which inherited IRAs may be distributed. Inherited IRAs must now be distributed completely within 10 years of the IRA owner’s death, unless the IRA beneficiary is the surviving spouse; disabled or chronically ill; less than 10 years younger than the owner; or the owner’s minor child. Under these rules, naming Ocean Conservancy as a beneficiary of your IRA while using other assets to benefit family members may be a tax-wise charitable planning decision.
The IRA charitable gift opportunity turned out to be the right vehicle for Julie and Don Dickinson. “We looked at it closely and read up on it,” says Don. “We were also told it was a good idea by a financial advisor.”
The Dickinsons transfer a portion of their required minimum distribution directly from their IRA to Ocean Conservancy. In this way, they avoid having to count the donated amount as income on their tax return. Julie and Don want to do all they can to help clean up the oceans and promote clean water worldwide. “We hope our gifts can help address problems like these.”
Find Out if a Qualified Charitable Distribution is Right For You
You’re qualified to make this type of gift!
It looks like there are still some requirements that need to be met!
Take Your Next Steps
Get started by selecting your IRA custodian and filling out your information below.
This information will be used to pre-fill your distribution form.
Once you have downloaded and completed the rest of your form, please mail the form to your IRA custodian.
We recommend mailing this by December 1 to ensure you receive your tax deduction for this year.
Please let us know about your generous gift!
We would like to thank you and ensure your gift goes to the program or department you desire.
The content found on this site is general in nature and intended to be used for informational purposes only. It should not be relied upon as legal, tax, accounting or other professional advice. To determine how a gift or estate planning decision might affect your particular circumstances, you should consult an attorney, financial advisor or other qualified professional.