At age 70½ or older, one of the best ways to make a charitable contribution can be through your traditional IRA. You can use your IRA income rather than cash to make charitable gifts by making a Qualified Charitable distribution (QCD) to your favorite charity.

All you need to do is:

1. Contact your IRA administrator and authorize a direct transfer from your IRA to a the Council on Aging of Martin County.
2. Have the IRA administrator make the check payable to Council on Aging of Martin County:
   1. Address: 900 SE Salerno Road, Stuart, FL 34997
   2. Phone: 772-223-7800
   3. IF you need it, our tax ID# 52-1007762

This QCD can satisfy your required minimum distribution (RMD) for the year. It reduces your taxable income, which can help reduce your income taxes. The maximum amount for charitable distributions from your IRA cannot exceed $100,000 per calendar year. (The starting age to begin making Required Minimum Distributions (RMDs) now is 72, but QCDs still can begin at 70½.)

You can also name a 501(c)(3) public charity, like the Council on Aging, as your IRA beneficiary, to enable you to fund your charitable and legacy objectives in an efficient and effective way while potentially experiencing tax savings for your heirs and your estate.

Always consult with your financial advisor. Contact Michele Jacobs, Chief Philanthropic Officer at (772) 223-7803, to discuss this further. If you need a list of advisors, we can provide you with some local options.