Some sponsorship opportunities offer multiple benefits. Crescent Rotary’s Boil and Bru is one of those opportunities!
Over the past years, Boil and Bru has become a social highlight of the year with good company, live music, delicious food, and various beers brewed locally in the Triad.
Crescent Rotary Club Foundation, has had a positive impact in our community for over 50 years. Proceeds help alleviate hunger, distribute medical care, educate children, clean our environment, and serve wounded veterans.
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Our 2021 Sponsors
Consider donating to the Crescent Boil and Bru tax-free using a qualified charitable distribution.
How QCDs Work: QCDs are also called IRA charitable distributions or IRA charitable rollovers. They enable individuals to fulfill their required minimum distribution by a direct transfer of up to $100,000 to charity. They can also be used to support multiple charities, as long as the sum of the distributions is within the $100,000 limit. But because QCDs don’t increase taxable income, both higher tax rates and phaseouts can be avoided.
In addition, because QCDs reduce the balance of the IRA, they may reduce required minimum distributions in future years. QCDs are also not counted toward the maximum amounts deductible for those who itemize their giving on their taxes—the $100,000 can be above and beyond those limits. For these reasons, a QCD can potentially enable a donor to give a bigger charitable gift than they could if they just donated cash or other assets. Learn more about charitable tax strategies.
How QCDs are made: Qualified charitable distributions are made directly to the eligible charity from a traditional IRA, inherited IRA, inactive Simplified Employee Pension (SEP) plan and inactive Savings Incentive Match Plan for Employees (SIMPLE) IRAs. (Inactive SEP and SIMPLE IRAs are accounts that no longer receive employer contributions.)
The money is a direct transfer that never passes through the hands of the IRA holder. Instead, the IRA custodian can either send a check directly to the charity or the account owner, who then hands it over to the charity.
For a QCD to count toward your minimum annual IRA distribution, it must be made by the same deadline as a normal distribution, which is usually Dec. 31 of the tax year in question.
**Note – we are not tax professionals, please speak with your financial advisor or tax preparer.