IRA Charitable Rollover

If you are 70½ or older, you can support the mission of Cary Library and save on taxes by making an IRA Charitable Rollover, also known as a qualified charitable distribution (QCD), to the Cary Memorial Library Foundation.

You can make direct transfers totaling up to $100,000 per year and the distribution will not count as income for federal income tax purposes, which will also reduce your income subject to the Medicare surcharge and may reduce the taxation of your Social Security benefits.

To make an IRA Charitable Rollover, simply transfer directly to the Foundation all or a portion of your required minimum distribution from your IRA account.

Please consult your IRA administrator about how to correctly make an IRA charitable rollover donation to the Foundation.

Thank you!