Can your client use a QCD to make a gift to the Winona Community Foundation? The short answer is “yes,” but the full answer includes, “it depends.” The Winona Community Foundation is a qualified 501(c)(3) and is eligible to receive QCDs, but it depends upon where the QCD is directed. We would welcome the opportunity to meet with you and your client to help identify their goals and objectives for their giving, find an existing fund that meets those needs, or establish a field of interest or designated fund for that purpose.
The Internal Revenue Code (IRC) strictly prohibits an individual from making a QCD to their own donor advised fund. Therefore, individuals wanting to establish or add to their donor advised funds during their lifetimes should use a different asset such as appreciated, mutual fund shares, or cash.