Contributing RMDs to a Single Charity Fund
Donors can now contribute their Required Minimum Distribution (RMD) from an IRA to a qualified charity through a Qualified Charitable Distribution (QCD), up to $100,000 per year per person.
What are the benefits?
Reduces taxable income.
Simplifies giving by sending the full RMD to one charity fund.
Allows structured support for charitable causes.
What are the limitations or rules related to Single Charity Funds?
Donors must be age 70½ or older.
Funds must go directly from the IRA custodian to the charity.
QCDs cannot be made to donor-advised funds.
Contact your advisor or relationship manager if you would like to add a Single Charity Fund to your account.
Completing your Single Charity Fund Setup
After your advisor has created the SCF invite and sent it out, follow the steps below:
The client will receive an email with the action to "Get Started", which brings the client to the login page to create a password and complete their fund setup.
The client will click the link which will bring them to the set a password page:
Upon logging in, your client will finalize their fund details and contact information before completing the single charity fund setup:
Confirm the SCF details. **It is very important to ensure you've chosen the correct charity. Once your fund is created, the receiving charity is not editable.
Contributing to a Single Charity Fund
Adding funds to your Single Charity comes with the same contribution options as a regular donor-advised fund with the addition of an "IRA Transfer" option:
Follow these steps to contribute from your IRA:
Click Add Funds in the left navigation pane > select IRA Transfer:
Enter the IRA provider details and the amount to contribute. The right hand side will populate the information you'll need to submit a grant to the GiveClear Foundation from your IRA:
BENEFICIARY NAME
GiveClear Foundation
BENEFICIARY EIN
81-3222963
ADDRESS
1235 East Blvd Ste E PMB 1836, Charlotte, NC 28203
Include FFC instructions to designate your DAF to apply the funds to from the grant to GiveClear Foundation.
After logging your Intent to Contribution funds from your IRA, log into your external institution to initiate the fund transfer using the details on this page.
You can track the progress of your contribution on the Recent Transactions page:
Giving from Your Single Charity Fund
Once your Single Charity Fund is funded, you'll be able to begin granting. The granting process works the same way as it does with a donor-advised fund, however, with a single charity fund, you may only give to your designated charity.
Click Give in the left navigation pane and your SCF will load automatically:
Enter details of your grant including the amount, frequency, dates, purpose, and grant notes. Ensure the gift is NOT used for personal gain such as:
Tuition
Membership fees
Dues
Admission to charitable events
Goods bought at auction
Lobbying
Political contributions
Click Continue to review your grant. You can always click Edit to go back and make changes if needed.
Check the Box:
If you would like to give your grant anonymously, otherwise, your fund name and e-mail address will be provided to the grantee.
To confirm that your grant submission meets the AssetMark Program Guidelines.
Submit your Grant!
Once submitted, your grant will go into the pending state while it is reviewed. Navigate to the Recent Transactions page to view your grant detail status.