Can QCD be for specific fund within charity?

85PKQ8bn
85PKQ8bn Member Posts: 2 Newcomer
edited November 8 in Retirement Income

My church is a 501c(3) organization. In addition to a General Fund, there are several funds designated for specific purposes, i. e. Missions, School, Food Bank, etc. Can a QCD be directed to a specific designated fund or must it go to the General Fund?

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  • MatthewD
    MatthewD FreeTaxUSA Team Posts: 258
    Answer ✓

    Hello,

    That is a good question.  You should be able to direct the fund for a QCD by adding directions when the QCD is made from your retirement account.  However, I recommend that you speak with your church to see how you would make that designation so it is directed to the desired fund. 

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  • 85PKQ8bn
    85PKQ8bn Member Posts: 2 Newcomer

    Thanks, MatthewD. I can work the church. My concern was that IRS would consider that "control" and thus disallow the QCD. I couldn't find anything in IRS documents. From your response, I take it IRS allows specific designation for the funds so long as I do not receive personal benefit.

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  • MatthewD
    MatthewD FreeTaxUSA Team Posts: 258

    Generally, most churches provide year-end statements that they will use the fund at their own discretion. So you don't actually have much control how they are used for missionary, school, etc. Good luck.

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