IRA Charitable Rollover

Through the IRA Charitable Rollover, also known as the qualified charitable distribution (QCD), individual retirement arrangement (IRA) owners 70½ and older can make tax-free charitable donations (up to a maximum of $108,000 for tax year 2025) per year from your IRA directly to any endowed fund held by the Catholic Foundation of Eastern Washington (CFEW). 

Advantages of giving via a QCD:

• Beginning in the year you turn 73, you can use your gift to satisfy all or part of your required minimum distribution (RMD).
• The transfer does not generate any taxable income, so you benefit even if you do not itemize your deductions. 
• Since the gift does not count as income, it reduces your annual income level which may help lower your Medicare premiums and decrease the amount of your social security benefit that is subject to tax. 
• At any age you can designate CFEW as the beneficiary of all or a percentage of your IRA and it will pass to us tax-free after your lifetime. Reach out to your IRA administrator for a change-of-beneficiary form or download a form from your provider's website. Information you will need to provide your IRA administrator includes:
  • Legal Name: Catholic Foundation of Eastern Washington
  • Mailing Address: PO Box 1484 Spokane, WA 99210-1484
  • Federal Tax ID Number: 91-1137628

Tip: It’s critical to let us know of your gift because many popular retirement plan administrators assume no obligation to notify a charity of your designation. The administrator also will not monitor whether your gift designations are followed. We would love to talk to you about your intentions to ensure that they are followed. We would also like to thank you for your generosity.