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  • 1.  Refund of an IRA QCD

    Posted 07-10-2023 12:15 PM

    A client who wishes to remain anonymous has asked me to ask you all this question, please: What are your thoughts on the refund of an IRA QCD?  The organization has a donor who has fallen out with the institution and has made such a request.  Thoughts on allowing it?  It's under consideration by the board; if approved, thoughts on processing it?  Thanks so much.  Bill



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    Bill Connors, CFRE
    Independent Consultant on Raiser's Edge
    bill@billconnors.com
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  • 2.  RE: Refund of an IRA QCD

    Posted 07-10-2023 12:21 PM
    You might find the aasp article I wrote last year on "Refunding Gifts" useful:


    The institution would need to communicate, first, with the IRA holder - especially if the original gift occurred in a previous tax year. And, of course, the payment would have to be returned to them - not the individual.

    A better alternative - again with the consent of the IRA holder - would be to transfer the payment to a different qualified organization.

    John

    John H. Taylor
    Principal
    John H. Taylor Consulting, LLC
    2604 Sevier St.
    Durham, NC   27705
    919.816.5903 (cell/text)

    Serving the Advancement Community Since 1987




    Original Message


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