To donate from your IRA to Mount Olive, instruct your IRA administrator to send the distribution to:

Mount Olive Evangelical Lutheran Church
2830 18th Avenue NW
Rochester, MN 55901

Please contact our finance office, finance@molive.org, about your planned donation.

What are the benefits of making a Qualified Charitable Distribution?

  • Taking a Required Minimum Distribution is a taxable event. But a Qualified Charitable Distribution is NOT taxable, and does not contribute to the taxation of your Social Security benefits or increase your Medicare premiums.
  • You can make these gifts at any time of year, and don’t have to wait until year-end to take your IRA required minimum distribution.
  • You get a tax benefit whether you use the standard deduction or itemize deductions on your taxes.
  • You can give over and above any Adjusted Gross Income (AGI) limits without having to carry deductions forward into subsequent years.

What are the requirements for making a Qualified Charitable Distribution?

  • You must be at least 70½ years of age.
  • Only traditional IRAs are eligible for gifting.
  • Recipients need to be qualified 501(c)(3) public charities.
  • An individual may directly transfer up to $105,000 in 2024 to any qualified public charity.
  • Married couples who each have an IRA can give up to $105,000 from each.
  • The check must be made payable directly to the charity, not the IRA owner.
  • An IRA QCD needs to be an outright gift with no benefits coming back to the donor.
  • An IRA QCD can be used to fulfill a pledge.
  • An IRA QCD cannot be transferred to a private family foundation or a donor advised fund.

For more information about QCDs, see Reminder to IRA owners age 70½ or over: QCDs are great options for making tax-free gifts to charity.