When planning your IRA withdrawal strategy, you may want to consider making charitable donations through a Qualified Charitable Distributions (QCD). This is a direct transfer of funds from your IRA custodian, payable to a qualified charity. QCDs can be counted towards satisfying your required minimal distributions (RMDs) for the year, if certain rules are met.
In addition to the benefits of giving to a charity, QCDs excludes the amount donated from your taxable income, which is unlike regular withdrawals from an IRA. Keeping your taxable income lower may reduce the impact to certain tax credits and deductions, including Social Security and Medicare.
Also, QCDs do not require that you itemize, which due to the recent tax law changes, means you may decide to take advantage of the higher standard deduction, but still use a QCD for charitable giving.
Can I make a QCD? Check with your tax advisor first, but here are some of the rules:
- You must be 70 ½ or older to be eligible
- QCDs are limited to the amount that would otherwise be taxed as ordinary income (you’re not able to take more than your required minimum distribution)
- That maximum annual amount that can qualify is $100,000
- The funds must be a “direct transfer” from your IRA to the charity.
What kind of charities qualify?
The charity must be a 501(c) (3) organization….. like Brighton Center!
For more information, please contact your tax advisor or Becky Timberlake at firstname.lastname@example.org
On Thursday, November 15, 2018, Brighton Center's Center for Employment Training (CET) celebrated the 27 member fall 2018 graduating class. This graduation marks a milestone in welcoming the first graduates from the Health Technologies Administration (HTA) skill division.Continue reading »
Kentucky Employers’ Mutual Insurance (KEMI) recognized Brighton Center for its commitment to workplace safety by presenting the organization with the 2018 KEMI Destiny Award.
The Destiny Awards are presented annually by KEMI to policyholders that best exemplify KEMI's motto, "Control your own destiny." The awards symbolize what can be accomplished when organizations work together to improve workplace safety. Policyholders who earn the KEMI Destiny Award effectively demonstrate to KEMI their ability to manage a formal safety program, provide on-site training and regular safety meetings for employees, and display an ongoing commitment to safety from all levels throughout their organizations.
“We are proud to honor these twenty organizations and highlight their commitment to workplace safety,” said Jon Stewart, President & CEO of KEMI. “Earning the KEMI Destiny Award requires a clear focus, teamwork, and a management philosophy that truly values the wellbeing of employees.”
This is the second consecutive year Brighton Center has received this honor.
“Brighton Center’s culture is surrounded by safety,” said June Miller, Chief Financial Officer for Brighton Center. “We are committed to ensuring that our operations ensure the health and safety of our employees, visitors, and customers. We train our employees that it is everyone’s responsibility to maintain an environment that promotes health and safety and we’ve seen tremendous decreases in claim numbers in recent years because of our proactive efforts.”
To learn more about the KEMI Destiny Award or to access free workplace safety resources, visit www.worksafeky.com.
FRANKFORT, Ky. (October 24, 2018) – The Department for Local Government (DLG) has approved funding for a $200,000 Community Development Block Grant (CDBG) to help cover operational costs at the Brighton Recovery Center. The facility is a long-term recovery center for women dealing with substance abuse and addiction.Continue reading »
Cincy Magazine features Brighton Center in "A Brighter Day" and how Brighton Center is working to help families and individuals to become self-sufficient.
"Julie Van Brunt, 30, from Erlanger, Kentucky, found the training services she needed thanks to the Brighton Center.
“A home visitor from Every Child Succeeds [a Brighton Center program] pointed me to Brighton Center in 2017,” she says. It was there that she was able to receive training in its medical assisting programs.
Van Brunt received a Registered Medical Assistant (RMA) designation in April 2018 from the center, which provides free training in adult education classes with a curriculum in a variety of subjects including medical terminology. She is now employed at UC Health in the department of neurology."
Brighton Center was recently awarded the Street Outreach Program Grant from U.S. Department of Health & Human Services, Family and Youth Services Bureau. Street Outreach will provide aggressive street-based services to runaway, homeless, and street youth who have been subjected to, or are at risk of being subjected to, sexual abuse, sexual exploitation, and severe forms of trafficking in persons.
This will include outreach, prevention, individualized assessment, service linkages, case planning and follow-up for youth. The program will be located in our RHSY Homeward Bound Shelter at 13 East 20th Street in Covington, Kentucky, the largest urban city in Northern Kentucky (NKY) with the second highest number of homeless youth in the state.
Street Outreach will provide support services during the 3 year project period and will assist 250 youth per year (750 in 3 years) and inform 1,800 individuals per year (5,400 in 3 years) about our services.