Introducing: THE HARVEST FUND (QCD)

Retirees—get unique advantages from a Qualified Charitable Distribution

If you have an IRA Rollover, opening a CFA HARVEST FUND (QCD)  is a smart way to stretch your dollars for charitable giving that is quickly gaining popularity for it’s TRIPLE savings effect on tax-free giving.

In the spirit of “planning for harvest,” CFA’s HARVEST FUND (QCD) is a specially designed “Field of Interest Designated Fund” that allows you to use your IRA as a powerful source of charitable giving to support the charities, churches and ministries dear to your heart, and vital to community growth.

Who qualifies?

Seniors who are at least 70 ½ Years old and have an IRA account can make a “Qualified Charitable Distribution (QCD).”

• This is a direct transfer to charity, and it counts towards your RMD-Required Minimum Distribution.
• The IRS does not allow a QCD into Donor Advised Funds.
• So at CFA we designed this “HARVEST FUND,” specifically to accept a QCD from your IRA.

Once you start a HARVEST FUND, CFA handles ALL the distribution payments FOR you. It’s like getting concierge-level services, with white glove management of a personal portfolio of the preferred charities that you pre-select. No more keeping track of multiple checks and receipts.

Why start a HARVEST FUND (QCD), instead of giving directly to charities?

• With ONE Harvest Fund, You specify a specific purpose, and charities you want to support. It allows for multiple charities.
• Your Harvest Fund is managed by CFA based on the purpose and charities you have described in your Harvest Fund Agreement with CFA.
• If you want any changes to your agreement, CFA works with you at the time you add a new QCD gift.
• You do NOT have to include the amount of QCD in your Gross Income, keeping Adjusted Gross Income (AGI) lower.
• This amounts to up to $100K each year, even if you don’t itemize—and that’s $200K annually if you’re married, filing jointly and your spouse also has an IRA

The Harvest Fund (QCD) is specially designed to take advantage of a little known 2021 tax law passed to benefit Retirees age 70.5+

A CFA Harvest Fund is a type of Qualified Charitable Designation (QCD) known as a “Field of Interest Designated Fund,” which allows you to support the work of the charities and ministries dearest to you heart, while enjoying valuable tax and income benefits, too.

If you’re over 70 1/2, you can give up to $100,000 in QCD per year—100% tax-free.

• These gifts also “count” to satisfy your Required Minimum Distribution (RMD) allotment.
• This means, you avoid paying taxes on that portion of RMD used up as a QCD to the Harvest Fund.
• When AGI is lower, it may reduce social security income that is taxable, and it may also keep medicare health premiums lower.

Using the “Harvest Fund” your QCD gift to charity stays OUT of your Adjusted Gross Income.

• That gives you a full deduction for your gifts to charity.
• All this without needing to itemize deductions on your tax return.
• Instead you’ll receive 100% of the benefit of charitable giving because it’s not in your AGI at all.
• Remember too- the charities who receive distributions from your Harvest Fund don’t pay taxes either—a win win!