If you’re 70.5 or older, you can also support SCELP with a gift directly from your IRA. These gifts are called Qualified Charitable Distributions (QCDs) or charitable roll-overs. In many cases, this kind of gift is 100% tax-free, and if you’re over 72, they can help you fulfill your Required Minimum Distribution (RMD) tax-free. RMD is the smallest amount individuals 72 years and older must distribute from their IRA each year. The penalty for missing an RMD is 50% of the amount that was supposed to have been distributed.
In short, making a QCD is a powerful way to make an immediate impact on the protection of South Carolina’s land, water and communities.
All you need to do is inform your IRA administrator of your gift details (including SCELP Tax ID: 57-1031430) and complete the relevant paperwork.