Qualified Charitable Distributions (QCDs)

If you are 70½ or older, making a Qualified Charitable Distribution (QCD) from your Individual Retirement Account (IRA) can be a meaningful way to support The Fort Worth Club  Scholarship Foundation while also reducing your income tax burden.
QCDs allow you to:

• Lower your taxable income
• Fulfill your Required Minimum Distribution Requirement (RMDs) in whole or part, which can help manage your annual taxable income. The QCD is not included in your taxable income and does not generate a deductible charitable contribution.

Is the FWC Scholarship Foundation Eligible to Receive QCDs?
Yes! The FWC Scholarship Foundation is recognized by the IRS as a qualified charity, making it eligible to receive QCDs under these IRS guidelines:

1. Qualified Charity Status: The FWC Scholarship Foundation is a recognized IRS-qualified charity.
2. Scholarship Fund Eligibility: As a qualified charitable organization, the foundation meets IRS criteria.
3. Age Requirement: IRA owners must be 70½ or older at the time of the distribution to qualify for a QCD.
4. Annual Distribution Limits: An individual may donate up to $105,000 as a QCD from their IRA.
5. Direct Transfer Requirement: The distribution must be transferred directly from your IRA custodian to the FWC Scholarship Foundation to qualify as a QCD.

How to Direct Your QCD to the FWC Scholarship Foundation
To designate a QCD to the FWC Scholarship Foundation, please instruct your IRA Custodian (Trustee) to make the transfer directly to the Dallas Foundation for the benefit of FWClub#293.

Questions about your Contribution?
Please reach out to Melissa Wilburn at [email protected] for assistance.