Maximixing Your Impact

As DMACC President Rob Denson and his wife, Pat, were looking for ways to magnify the impact of their gifts to the College and its students, they learned of a unique giving opportunity that fit perfectly with their giving plan.

If you have an individual retirement account (IRA), at some point the federal government mandates an annual required minimum distribution (RMD) from that account, whether you need the income or not. But, you have a unique opportunity to support your favorite nonprofit organization (DMACC) with those funds without paying a tax on the distribution, allowing more of the amount to go to DMACC. It's called a qualified charitable distribution (QCD).

A QCD is an option that Rob and Pat have now taken advantage of for several years, and can be used for all or part of your RMD. Again, it's great because, as a QCD, the entire amount of the distribution goes to the College and no taxes are due or paid, increasing the amount of the gift at no cost to you.

"There will be some paperwork as you work with your bank or IRA holder, but it's worth it," Pat says.

"Rob and I are very happy that this option is available to us. We love supporting the College and our DMACC students. Seeing them succeed gives us an incredible sense of pride."

Rob says: "Pat and I will continue to use this vehicle for making our annual gift. It is a great opportunity and you can direct your QCD to a variety of DMACC uses, like scholarships, capital projects, etc. This year, our QCD will go to the Urban and Carroll expansion projects."

For more information on making a gift through your IRA, please contact the DMACC Foundation at 515-964-6229 or foundation@dmacc.edu.