Did you know? Some of the rules for a Required Minimum Distribution from an IRA have changed in 2023. However, when it comes to making a Qualified Charitable Distribution (QCD or charitable IRA rollover) from an IRA, what has NOT changed is the age eligibility.

If you are 70 ½ years old or older, you can donate up to $100,000 (in total) to one or more charities directly from a taxable IRA. And if both you and your spouse are age-eligible and have an IRA, the total QCD amount is $200,000. This could reduce your taxable income*. It’s NOT too early to make your 2023 QCD’s today!

For more information, please visit the IRS website.

Donor Advised Funds (DAFs) and You

There are no changes to DAF Funds. However, you can now make a DAF grant to CFH directly using the newest tool from Chariot. If you have DAF Funds, you can scan the QR code OR use this link and in 3 simple clicks, send a grant our way.

This tool includes many DAF management companies. Namely Fidelity, Schwab Charitable, Daffy, Goldman Sachs Philanthropy Fund, the Jewish Community Fund of New York and many others. Whether you give to CFH or another worthy charity, check it out!

Why are we sharing this information now?

The data is just in. CFH served over 9,600 homeless or unstably housed persons in 2022—a 25% increase over the prior year. We are doing everything we can to alleviate their medical and mental health challenges. Thus, moving them closer to stable and housed lives once again. Making a QCD or DAF grant to CFH will support the critical health care services our homeless neighbors need and deserve. Want your support to go toward a specific need such as mental health services or reaching street homeless? Call Cathy at 212-366-4459, ext 217, to discuss your goals.

*The information above is not intended to be tax or financial advice; every situation is different. CFH does not endorse any company referenced in this article. Please consult a tax expert or your advisor to determine your eligibility regarding the information above. Please contact your IRA custodian to discuss your interest in making a QCD to CFH or another nonprofit.