Qualified Charitable Distributions & Required Minimum Distributions

Qualified Charitable Distributions & Required Minimum Distributions

Did you know that the Graduate Theological Union is a charity eligible to receive Qualified Charitable Distributions (QCD) directly from your individual retirement account (IRA)? A Qualified Charitable Distribution is a direct, tax-free transfer of funds from your IRA to an eligible charity, such as the Graduate Theological Union (GTU). Any individual 70½ or older is eligible to make a QCD. 

QCDs can be counted toward satisfying your Required Minimum Distribution (RMD) for the year. If you are 73 years or older, you must take RMDs from your traditional IRA. There are stiff penalties for failing to take your RMD, and RMDs must be withdrawn from your IRA before December 31 of each year. The GTU can accept Required Minimum Distributions directly from your IRA custodian. 

Unlike regular withdrawals from an IRA, a QCD excludes the amount donated from taxable income. To qualify, certain requirements must be met. Please consult a qualified financial advisor or tax attorney with questions regarding QCD and RMD rules and regulations. 

Distributions can be directed to: 

Graduate Theological Union 
Office for Institutional Advancement
2400 Ridge Road 
Berkeley, CA 94709 

The GTU’s Federal Tax Identification number is 94-1581707. The Graduate Theological Union is a 501(c)(3) nonprofit organization. The GTU’s IRS tax-exempt letter is available upon request.