Qualified Charitable Distributions
After renewing your membership, please consider an additional donation. You can contribute directly from your traditional IRA so long as you are at least age 70½ years. You can give any amount (up to a maximum of $100,000) per year from your IRA directly to a qualified charity such as CWAG. Your employer may offer matching donations,
If you need to take Required Minimum Distributions from a traditional IRA, Qualified Charitable Distributions (QCD's) are a very easy and tax-efficient way to donate to CWAG. These donations come "off the top" of your taxable income so there is no need to bother with deductions. In addition, a QCD will reduce your "modified adjusted gross income" and thus may help prevent having an "income-related monthly adjustment amount" added to Medicare premiums.
To do this with Vanguard: Other IRA custodians should be similar. In your Vanguard IRA account, select "Transfer Money" and "Withdraw from IRA," then select your (Money Market) Settlement Fund and enter the amount (for example $1000) and hit "Continue". In the next screen, select "Send me a check payable to a charity" and enter the charity name (Citizens Water Advocacy Group). In the next screen, select "Do not withhold" taxes since this money will not be taxable then submit the transaction. Vanguard will then send you a check, which you can forward to CWAG by USPS at this address: CWAG • P.O. Box 13145 • Prescott, AZ 86304.
Vanguard has a $5000 limit for a QCD done this simple way, with no signature guarantee needed. There is no minimum amount.
Vanguard suggests keeping a copy of the check to prove the distribution was a donation. CWAG will also provide a receipt.
Direct any questions to