MAKE A GIFT FROM YOUR IRA (QUALIFIED CHARITABLE DISTRIBUTION)December 7, 2021
Meet Hanna Donor Tom Federico who Donated Through his IRA
Tom, a long-time supporter of Hanna and a Guardian Angel through his monthly giving, recently made his first Qualified Charitable Distribution (QCD) gift to Hanna.
A QCD is a transfer of funds from your IRA made directly to a qualified charity. It can satisfy your required minimum distribution and count as a tax-free gift. It’s one of the many giving options available to donors. For more information on giving from your IRA click HERE.
Tom. Tell us about yourself.
In general, I’ve always been lucky. I got a good education, good training with the Navy (Navy Pilot) and a good job after I spent 8 years in the Navy. I worked for the same company for 36 years. We made concrete pipe for water mains and sewer mains, and I worked in sales, covering the California territory.
What do you love most about Hanna?
I like what you’re doing for the boys at Hanna by getting them going on the right path. I like that you teach them responsibility – like with the animals through your Ag Program and I like that they have something to care for through those programs.
How did you first learn about giving through QCDs?
I read something in the paper about giving through QCDs. I’m sorry I didn’t learn about it earlier as I’ve been taking out my required monthly distribution for 22 years, and I would have given through QCDs sooner. During the pandemic, I was doing a lot of reading and learned about it. I have two IRAs with different companies, and I quizzed them about it. Schwab has a checking account where you can write checks out of your IRA, so that’s what I did. But I like giving monthly, too.
Hanna Boys Center relies on the generosity of its donors. Cash gifts account for the largest portion of the gifts we receive. However, in this document, we are highlighting another great way to give. For more information on the different giving options please visit hannacenter.org