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  • 1.  Using QCD for Arboretum membership purchase

    Posted 02-28-2024 09:28 AM
    We've applied the understanding that a donor may not use their QCD to purchase an annual membership to our Arboretum. 

    However, I have a donor who is pushing back saying that they use their QCD for membership with Minnesota Public Radio and TPT (Twin Cities PBS), and questioning that we're misinterpreting the rules.

    We charge $60 for an annual membership for the Arb, so is fully deductible under the IRS Pub 526. 

    Are we correct in not allowing a QCD to make this purchase? If so, is there an IRS statement that I can refer to as backup with this donor?

    --
     Gwen Donev

    Director of Advancement Services

    Gustavus Adolphus College

    800 West College Avenue

    Saint Peter, Minnesota 56082

     

    Email:  gwendonev@gustavus.edu

    Office:  507.933.6515



  • 2.  RE: Using QCD for Arboretum membership purchase

    Posted 02-28-2024 09:37 AM
    The IRS states that QCDs must be used solely for charitable purposes. You will need input from Counsel. However, if your Counsel has previously ruled that these membership payments are 100% tax-deductible then you likely can use a QCD.  If, however, membership fees are not deductible, then you cannot.

    Only your Counsel - perhaps with input from the IRA custodian - can answer this for your organization.

    John

    John H. Taylor 
    919.816.5903 (Cell/Text)

    Big Ideas; Small Keyboard



    Original Message


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