Chuck and Lois Rose: Creating a Legacy with QCDs

Chuck and Lois Rose are proud South Dakotans with deep ties to their home state. Chuck grew up  on a farm and ranch near Sturgis,  while Lois was raised in Lemmon.  After completing their education and spending their careers in eastern  South Dakota, they now divide their time between western South Dakota and Arizona. However, their commitment to their home state remains strong. 

Throughout their lives, Chuck and Lois have demonstrated a deep  passion for giving back to the  community. In retirement, they found an even more powerful way to support the causes they hold dear—by leveraging Qualified Charitable Distributions (QCDs), also known as IRA Charitable Rollovers, from their Individual Retirement  Accounts (IRAs). This approach allows them to make generous, tax-efficient donations to charity, enhancing their impact. By directing  their gifts to permanent endowment  funds, Chuck and Lois ensure that their contributions will continue to support nonprofits for generations to come. 

Supporting  Specific Causes

Chuck and Lois have focused  their giving on causes that matter  most to them, such as education,  homelessness and youth  development. For example, they established scholarship funds for Sturgis and Lemmon High School graduates.  

By designating specific funds,  they ensure their gifts support  the causes they care about most, giving them peace of mind that their contributions are making  a meaningful impact.  

Maximizing  Tax Benefits 

Once Chuck and Lois reached the age at which the IRS mandated  required minimum distributions, they began directing these funds to SDCF to support their charitable interests. By making a QCD, the  donated amount is excluded from their taxable income, reducing their  overall tax liability.  

Seamless Estate  Planning with SDCF 

The process of incorporating QCDs into their estate planning was  simple and smooth with the help  of SDCF staff. The SDCF team worked closely with Chuck and  Lois to ensure their charitable giving strategy aligned with their goals. With expert guidance, they were able to navigate the process  efficiently, allowing them to focus on the causes they care about most. This collaboration made QCDs a seamless part of their overall estate planning, ensuring their legacy would be carried out with minimal effort on their part.  

Incorporating QCDs into their giving strategy has allowed Chuck and Lois to leave a charitable legacy.  

Impactful Giving

The Roses’ thoughtful approach  to philanthropy, combined with  the efficiency of QCDs, ensures  their generosity continues to  support causes they care about, creating a ripple effect benefiting organizations in South Dakota  for generations to come.