Qualified Charitable Distributions (QCDs) provide an incredible opportunity for individuals aged 70 ½ and older to create meaningful impact in their community while meeting their financial goals. Through a QCD, you can direct up to $108,000 from your IRA to a designated fund, a field-of-interest fund, or an unrestricted fund at the Community Foundation of Greater Flint. While donor-advised funds are not eligible, the many options available make QCDs a versatile tool for advancing causes close to your heart. 

If you planned to make a QCD in 2024 but didn’t complete it in time, don’t worry—there are steps you can take to ensure success in the future. Whether you initiated the process late or ran into administrative hurdles, now is the perfect time to prepare for 2025 and maximize the impact of your giving. 

Start with Your Required Minimum Distribution  

If you’re required to take a Required Minimum Distribution (RMD) for 2024 and missed the deadline, make this a priority. Failing to take your RMD can result in penalties, so it’s essential to address this promptly. If you were counting on a QCD to satisfy your RMD, file IRS Form 5329 to request a waiver. 

Plan Your Qualified Charitable Distribution Early in the Year 

While you can’t retroactively complete a QCD for the previous year, early planning for 2025 ensures your generosity makes the greatest impact. Here’s why starting early is beneficial: 

  • Avoiding RMD Conflicts: The "first-dollars-out rule" means that the first dollars withdrawn from your IRA will count toward your RMD. By initiating your QCD early in the year, you can make sure it’s credited toward your RMD before taking other taxable distributions. 
  • Reducing End-of-Year Stress: December deadlines can create unnecessary pressure. Planning early allows ample time to address any unexpected delays. 

Partner with Us to Achieve Your Goals 

At the Community Foundation of Greater Flint, we are committed to supporting your philanthropic vision. Our team is here to guide you and your advisors through the QCD process or explore other impactful ways to support the causes you care about. Together, we can create a legacy that strengthens our community for years to come. 

Make 2025 the year you maximize the potential of your giving. Let’s start planning today. Reach out to our Development team today at development@cfgf.org or 810.767.8270.