Art Collins and his wife donate regularly to the Foundation because they know that critical community services are important. When they heard about an easy and convenient option to support expanded services 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 Bon Secours Baltimore 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.