Giving through an IRA charitable distribution
Are you age 70 1/2 or older?
Making a direct transfer from your Individual Retirement Account (IRA) to Groundswell is one of the most powerful and tax-savvy ways to support our mission.
This special giving method, known as a Qualified Charitable Distribution (QCD), allows you to contribute up to $105,000 (limit indexed annually for inflation) per year while receiving significant tax benefits.
The Tax-Smart Benefits of an IRA QCD
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Tax-Free Giving
The amount transferred directly from your IRA to Groundswell is excluded from your gross taxable income. You pay no income tax on the distribution.
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Satisfy Your RMD
If you are age 73 or older, your QCD counts toward satisfying all or part of your annual Required Minimum Distribution (RMD).
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Give Without Itemizing
Because the gift is excluded from your income rather than claimed as a deduction, you benefit even if you take the standard deduction.
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Reduce Your AGI
Lowering your Adjusted Gross Income (AGI) may help reduce the tax on Social Security benefits or minimize Medicare premium surcharges.
How to Make a Qualified Charitable Distribution
The distribution must be sent directly from your IRA administrator to Groundswell to qualify as a QCD.
Please note: This information is for educational purposes only. Always consult with your personal financial or tax advisor to determine the specific tax implications for your circumstances.
Step 1
Contact Your Advisor: Get in touch with your IRA custodian or financial advisor to initiate a transfer request.
Step 2
Provide Instructions: Instruct your custodian to transfer the specific amount (up to $105,000) directly to:
Galveston’s Own Farmers Market dba Groundswell
PO Box 2153, Galveston, Texas 77553
Our federal tax ID number is: 46-4039301
Step 3
Confirm Your Name: Ensure the administrator includes your full name and address with the transfer so we can properly credit and acknowledge your generous gift.
We would love to hear from you.
If you have questions about Donor Advised Funds (DAFs), Planned Giving, stock transfers, or corporate matching, please contact us. We would be honored to speak with you personally about how your generosity can best support our community.