A Qualified Charitable Distribution (QCD) is a direct transfer of funds from your IRA custodian (brokerage or financial adviser), payable to a qualified charity such as Bethlehem Bible College. QCDs can generally be counted towards satisfying your Required Minimum Distributions (RMDs) for the year as long as certain requirements are met.
In addition to the benefit of supporting the ministry of Bethlehem Bible College, a QCD reduces taxable income, unlike regular withdrawals from an IRA. This means that QCDs provide a tax benefit whether or not you itemize deductions. Additionally, the reduction of your taxable income may reduce taxation on Social Security benefits and/or future Medicare premiums.
Instructions for Initiating and Designating a QCD
1.Contact your IRA custodian (brokerage or financial adviser) to confirm that you meet the requirements to make a QCD and to begin the process. Your custodian may ask for Bethlehem Bible Co’s Tax ID: 26-0747442. All IRA checks must be made payable to Bethlehem Bible College in order for it to qualify as a QCD. Checks may be first submitted to the IRA holder and then forwarded to Bethlehem Bible College, or they can be sent directly from the custodian to Bethlehem Bible College. Some IRA holders have checks for their IRA account and can send the checks themselves. All IRA checks should be sent to the following address:
Bethlehem Bible College
614-C South Business IH-35
New Braunfels, TX 78130
2. When funds are disbursed directly to Bethlehem Bible College from the IRA custodian, there is not always a way to identify who donated them or for what purpose. The simplest way to notify us of your donation details is to complete and submit the form below.
