When Chuck and Nancy Shulock learned they could make Qualified Charitable Distributions (QCDs) directly from their IRA — tax-free and counted toward their required minimum distributions — they saw an opportunity to give in a way that matched their values. What they didn’t expect was that this discovery would lead them to create a new way to strengthen their community.
The Shulocks had already opened a Donor Advised Fund at the Sacramento Region Community Foundation, but when they considered growing their existing charitable fund using QCDs, they hit an unexpected snag: Federal rules don’t allow QCDs to be contributed to Donor Advised Funds.
Rather than stop there, they got curious. Together with our staff, Chuck and Nancy found a solution that fit: a Field of Interest Fund, one of several types of charitable funds we offer that can receive QCDs. These funds allow donors to identify the issues or areas they care most about, and our team draws on community knowledge and philanthropic expertise to direct grants to organizations doing vital work in those areas.
“Chuck and I opened a Donor Advised Fund at the Foundation to have an efficient way to support numerous nonprofits,” Nancy said. “The Field of Interest Fund that we opened to accept QCDs is a great way to implement our tax and charitable giving strategies. Even though we can’t pick individual organizations, we get to choose fields where we most want to support our community — and we trust the Foundation will make good choices in line with our values.”
The Shulocks shaped their Field of Interest Fund to reflect their passions: strengthening the local food economy, supporting youth, and celebrating the arts. For them, this second fund is another tool to help their community thrive, a tax-savvy way to give that deepens their connection to the causes they care about most.
Maximize Your Philanthropy
It’s easy and rewarding to set up a charitable fund with the Sacramento Region Community Foundation. We’re here to help you create the right giving account for your goals — and enjoy the benefits of flexible service, expert guidance, effective investments, and local impact.