Designate ACA for Your Qualified Charitable Distributions

The ACA can now be a designated charity for your IRA. Within the past couple of years, the Air Commando Association was reclassified as a 501(c)(3) and this is important because many donors who have limited their charitable donations to only 501(c)(3) non-profit charities can now consider donating to the ACA. Another benefit for the ACA reclassification to 501(c)(3) is it opens the door for individuals to make Qualified Charitable Distributions (QCD) from their IRAs to the ACA, free from federal income taxes.

If you have reached the age of 70+ years, we strongly recommend investigating making QCD from your non-Roth IRAs to the ACA — or any worthy 501(c)(3) non-profit; they are federal income tax free. The year you reach age 72, you will be required to take “Required Minimum Distributions” from your IRAs—or lose 50 percent of those amounts each year to federal tax penalties. QCDs may be a good fit for your family situation.

NOTE: QCDs cannot be made from Thrift Savings Plan accounts.

The QCD process is relatively simple. A QCD must flow directly from your IRA custodian to your designated charity. Your custodian will report that amount to the IRS. When your taxes for that year are prepared, QCDs will be excluded from taxable income. The process is simple but each of you should consult your IRA custodian and tax preparer as you move forward. If you have QCD questions, please contact the ACA office at (850) 581-0099 or info@aircommando.org.

For more information: IRS website

Additional resource of information on QCDs from Fidelity Charitable
(the ACA has no affiliation with this institution)