Qualified Charitable Distribution

A Great Way for Seniors to Get a Tax Break on Charitable Giving

Many charitable givers itemize their deductions on their federal income taxes to lower their tax bill.  Charitable donations allow a partial deduction from income so that a person is taxed less.  For those who are at least 70 ½ years old and have retirement investment accounts such as a traditional IRA, there is a potentially better tax savings available. 

After age 70 ½ it is required that these investors take required minimum distributions (RMD’s) from their funds and these are taxed as income.  Another option is to have the mutual fund company directly pay some or all of the RMD to a qualified 501(c)3 charity (such as Saints Dennis and Joseph Catholic Academy).  Doing so will allow you to avoid paying federal income taxes on the transaction.  This could offer you tax advantages over a deduction since the money does not then appear in your adjusted gross income.  This is called a “qualified charitable distribution” (QCD).  If you are age 70 ½ or older and have retirement income from an IRA, the QCD could be your most tax effective way to donate to worthy causes.

As with any tax decisions, be sure to consult with a tax professional, and be sure to ask about how the QCD can leverage a better tax bill for you while supporting the mission of Catholic Education here at Saints Dennis and Joseph Catholic Academy!

SDJCA, Lockport

SDJCA, Lockport

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Saints Dennis and Joseph Catholic Academy is a dual-campus, serving PS-8th grade students.

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ENJOY, SDJCA! See you in April!
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ENJOY, SDJCA! See you in April!

➕”You are loved by God and each other, and your kindness, curiosity, and faith will help you grow into wonderful people, ready to make a difference in the world.” Prairie – 1st grade
“If you have a dream, chase it; because a dream won’t chase you back.” Matthew – 7th grade ➕

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➕”You are loved by God and each other, and your kindness, curiosity, and faith will help you grow into wonderful people, ready to make a difference in the world.” Prairie - 1st grade
“If you have a dream, chase it; because a dream won’t chase you back.”  Matthew - 7th grade ➕Image attachment

🌮🌮Taco Tuesday Success!🌮🌮
SDJCA ate $995.71 in tacos yesterday to earn $199.14 for the Drama Club! Thank you to Taco Heaven and to all that participated in this fundraiser! We’re off to see the Wizard!!

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🌮🌮Taco Tuesday Success!🌮🌮
SDJCA ate $995.71 in tacos yesterday to earn $199.14 for the Drama Club! Thank you to Taco Heaven and to all that participated in this fundraiser! We’re off to see the Wizard!!Image attachmentImage attachment+4Image attachment

Ethan (8th grade) and Mr. Barrett brought in some WWI artifacts to share.
Mr. Barrett’s items were from his great-grandpa.

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Ethan (8th grade) and Mr. Barrett brought in some WWI artifacts to share.  
Mr. Barrett’s items were from his great-grandpa.Image attachmentImage attachment

8th Grade STEM – Exploring Sound
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8th Grade STEM - Exploring SoundImage attachmentImage attachment+1Image attachment



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