NEW philanthropic service from Seattle Foundation: leverage your RMD for greater impact! 

Many of you have asked us over the years about donating all our part of your Required Minimum Distribution (RMD) to help further your philanthropy at Seattle Foundation through a Qualified Charitable Distribution (QCD). In the past, the answer has been “no” – because a QCD cannot be donated to a Donor Advised Fund. Note: QCDs can be donated to other fund types available at Seattle Foundation, such as a designated fund, but most philanthropists at Seattle Foundation use a Donor Advised Fund – thus, the conundrum for many of our fundholders.

Now, the answer is “yes” – you can use a QCD to advance your philanthropy! We’re excited to be launching a new service at Seattle Foundation – the Immediate Impact Fund. 

If you are 70.5* or over, we hope you’ll consider an Immediate Impact Fund as another tool in your philanthropy toolbox.

About our new Immediate Impact Funds: 

• They’re simple to open: By using one asset (your QCD) and by selecting up to 5 charities to support (including the possibility of supporting Seattle Foundation’s impactful Core Programs), you’re already on your way to making great impact. Pre-determine your preferred charities and the timeline in which you want your funds distributed, while they’re invested to grow along the way (something not possible with an ordinary QCD).
• They’re easy to maintain: Choose to replenish your fund with another QCD each year, simplifying your annual giving. 
• They maximize an underutilized asset: So many people are interested in donating all or part of their RMD to charity as a QCD, but wish to keep their philanthropy streamlined and under one roof. With an Immediate Impact Fund, you can do just that, and remain anonymous as desired.

Interested? Watch our webinar on the ins-and-outs of RMDs, QCDs, and Immediate Impact Funds:

To learn more, answer your questions, or get started with your own Immediate Impact Fund, please reach out to Cindy Sharek, Director of Gift Planning, at 206.957.7712 or [email protected]. 

*Those 70.5 or over can take a QCD, but only those 73 and over are required to take a minimum distribution from their retirement account (known as an RMD). We suggest consulting your tax professional for guidance about how a QCD can support your financial goals. We are also available to help answer initial questions.