Retirement Plan

Could be right for you if

You have an IRA or other Qualified Retirement Plan such as a 401(k) or 403(b);
You do not expect to need all of your retirement plan assets during your lifetime;
You have other assets, such as securities or real estate, that you plan to pass to heirs; and
You want to provide income or payments to loved ones after you’re gone.

Your IRA, 401(k), 403(b), or other Qualified Retirement Plan can provide a tax-smart way to make an impact on Gilda’s Club Kentuckiana—either now or after your lifetime. The Qualified Charitable Distribution (QCD), sometimes called an “IRA Charitable Rollover,” is a powerful way to make a tax-free gift now to Gilda’s Club Kentuckiana and also satisfy your Required Minimum Distribution (RMD).

How it Works

THREE OPTIONS

Option 1:

Tax-free gift now with a Qualified Charitable Distribution (an “IRA Charitable Rollover”)

You can make a tax-free gift with a Qualified Charitable Distribution (QCD) from your IRA. (Other Qualified Retirement Plans such as 401(k)s and 403(b)s are not eligible for QCDs.) You must be at least 70½ years old to take advantage of this opportunity. Your QCD must go directly from your IRA administrator to Gilda’s Club Kentuckiana.

The total of all QCD gifts for 2025 cannot exceed $108,000 per person. However, if your spouse has a separate IRA, they can also make a QCD of up to $108,000 in 2025 if they otherwise qualify.

Benefits of a QCD gift:

If you don’t itemize deductions, a QCD still provides the tax benefits of a charitable gift.
If you’re age 73 or older and subject to RMDs, your QCD can satisfy all or part of your RMD without increasing your taxable income.
Your gift provides immediate, tax-free support for the mission and programs of Gilda’s Club Kentuckiana.

Option 2:

Designate your remaining Qualified Retirement Plan assets to benefit Gilda’s Club Kentuckiana

Another impactful way to give is to designate Gilda’s Club Kentuckiana as the beneficiary of all or a portion of what remains in your IRA, 401(k), 403(b), or other Qualified Retirement Plan after your lifetime.

Benefits of this option:

Your estate will receive an unlimited estate tax charitable deduction for the value of the retirement plan assets given to Gilda’s Club Kentuckiana.
Because Gilda’s Club Kentuckiana is a tax-exempt nonprofit organization, no income taxes will be owed on the distribution.
This strategy allows you to use taxable retirement assets for charitable giving while preserving other assets for your heirs.

Note: Naming both charitable and noncharitable beneficiaries of your Qualified Retirement Plan may have tax implications. Always consult your financial advisor or estate planner before finalizing your beneficiary designations.

Option 3:

Use your Qualified Retirement Plan assets to fund a life income plan

You may also choose to have the remaining assets in your IRA, 401(k), 403(b), or other Qualified Retirement Plan used to fund a charitable remainder trust or charitable gift annuity after your lifetime. These plans can make income payments to your loved ones for life, with the remainder supporting Gilda’s Club Kentuckiana.

Benefits of this option:

Your loved ones receive income for life through a trust or annuity.
The charitable portion of your gift may qualify your estate for a charitable estate tax deduction.
This strategy allows you to support both your family and Gilda’s Club Kentuckiana in a tax-efficient way.

EMAIL LEXI CALL LEXI

Stay in touch.

NEWSLETTER SIGN-UP

2440 Grinstead Dr, Louisville, KY 40204, 502.583.0075

1720 W Broadway, Ste 205, Louisville, KY 40203, 502.371.3040

1218 E Oak St, New Albany, IN 47150, 502.371.3050
5318 King Rd, Jeffersonville, IN 47130, 502.371.3050