Donor

Meet Art Collins

Donor

Meet Art Collins

Bon Secours Mercy Health Foundation

A Qualified Charitable Distribution is a win-win for Art and the Foundation

Art Collins and his wife believe in giving back. The tax savings of a planned gift using a QCD mean they have more to give.

Art Collins and his wife donate regularly to the Foundation because they know that quality health care is important for their community. When they heard about an easy and convenient option to support the hospital with a planned gift, the couple jumped at the opportunity.

Like most Americans aged 73 or older with an IRA, Art was faced with taking a Required Minimum Distribution (RMD). His financial advisor recommended he donate it to a charity as a Qualified Charitable Distribution (QCD) instead. A QCD would help them make their charitable donation while also providing income tax relief.

Art immediately knew which charity they wanted to support.

“It’s a plus-plus for us and the Foundation, too,” Art says. “They have fine lawyers who worked with me and my financial advisor for the gift. It just makes a lot of sense to give in that way. It’s a no-brainer when you come down to it.”

 

“It’s a good feeling doing good for your community. I never set out to be the richest guy in the world. And you can’t take it with you, so what’s the best way to leave a legacy?” 

 

Required Minimum Distributions are the minimum amounts you must withdraw from your IRA each year, beginning when you reach age 73. But they can also increase your taxable income. However, donating it as a QCD to a local charity like our Foundation helps further your philanthropic goals.

The Qualified Charitable Distribution from his IRA helped Art meet his RMD requirement, save on income taxes, and continue their dependable support for the services they care about the most at Bon Secours Mercy Health.

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