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Use Your Retirement Fund to Make a Tax-free Gift Today

Making a qualified charitable distribution (QCD) from your individual retirement account (IRA) is a smart way to make a meaningful difference for adults and families in Allegheny and Beaver County by helping them improve their reading, writing, math, English language, and workplace skills.

Beginning at age 73, retirement account holders are required to make annual withdrawals from their IRAs, known as required minimum distributions (RMDs). Those assets are then considered income and are taxable. A QCD from your IRA (up to $100,000 per person per year) can help you satisfy your RMD, avoid increased taxes and support your philanthropic priorities. While an RMD is not yet required, you may begin making QCDs starting at age 70 ½. 

If you’re at least 59½ years old, you can take a distribution from your IRA without penalty and use it to make a gift to Literacy Pittsburgh. While you are subject to income tax on the withdrawal, if you itemize your deductions, you may be able to take a charitable tax deduction for your gift.

No matter how old you are, you can designate Literacy Pittsburgh as the beneficiary of all or a percentage of your IRA, which will pass to us tax-free after your lifetime. It’s an easy way to make a big impact. 

Donor Spotlight: The Smiths
"The capacity to negotiate the world through words is essential for an individual's survival, the survival of families and, of course communities. Literacy Pittsburgh provides critical programs to those ends."
— Dr. Susan Smith, Literacy Pittsburgh Donor
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