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Donating IRA Required Minimum Distributions (RMDS)

IRA owners who are 70 ½ or older can give money to charities directly from their IRA and not have it counted as income on their tax return. This is called a Qualified Charitable Distribution, or QCD. The giver does not pay tax on the distribution, so the charity gets the full distribution amount.

This strategy is particularly useful for those who are subject to Required Minimum Distributions (RMD’s). IRA owners who are 72 or older must draw a set percentage from their IRA each year depending on the owner’s age. Donating some (or all) of that money directly avoids taxes and counts toward the RMD requirement (up to $100,000 per year). 

Because a QCD is not counted as income, it may also help save on Medicare premiums. Medicare premiums are calculated on modified adjusted gross income, so controlling the amount of income may keep an individual from crossing into a higher premium bracket.  

Excluding QCD income does not require one to itemize deductions. For those who do itemize deductions, QCD’s cannot also be claimed as an itemized charitable deduction.  

Donating an IRA QCD is easy. Have your IRA trustee issue a check payable to:

Seneca Lakes Pure Waters Association
PO Box 247
Geneva, NY 14456

Donating Securities 

Many investors have stocks or mutual funds that have appreciated over the years and would trigger a significant capital gains tax, if sold. A common strategy to avoid that expense, and get a full charitable deduction (if applicable), is to directly gift highly-appreciated securities to a qualified charity.

To qualify, securities must be held for more than one year; and it is best if they are common, publicly held shares. Donating securities this way avoids capital
gains taxes that are triggered if the securities are sold and then the proceeds donated. If the donator itemizes deductions (beyond the standard deduction), the full value of the securities is tax-deductible.

Pure Waters has an account with Morgan Stanley that can accept securities as donations.  Please complete the following steps to donate securities to Pure Waters:

1. Instruct your broker to transfer funds using the following information: 

a. Seneca Lake Pure Waters Association account number at Morgan Stanley: 056-021994-503

b. Morgan Stanley DTIC number: 0015

c. You will need to specify the security name, symbol, and number (or approximate value) of shares you wish to donate.

d. If you have questions, the Morgan Stanley point of contact is: Tom LaCrosse, 585-264-5833 or

2. Once the securities transfer has been initiated, please notify us by sending an email to:, copy to, with the following information:

a. Your name and contact information.

b. The security symbol (and/or name) and the number of shares.

3. Once the transfer has been confirmed, Seneca Lake Pure Waters will send an acknowledgement/receipt with the donation valuation. 


Seneca Lake Pure Waters Association

P.O. Box 247

Geneva, NY 14456


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