QCDs (and other donations) for Jonathan’s Legacy

As HD regulars know, Jonathan sought to have a meaningful legacy in the form of helping young people, especially those who otherwise might not have the opportunity, get started early with saving and investing. Thus, with the help of some of his many friends in the investing community, the Jonathan Clements Getting Going on Savings Initiative was born.

Jonathan spoke about the Initiative here and here. There’s also a thread about it on the Bogleheads forum. I wanted to make a QCD (Qualified Charitable Distribution) donation to Jonathan’s Initiative and so thought I’d outline the process I went through in the hope it might help others who are considering a QCD (or other type) donation.

I first went to the donation page at the John C. Bogle Center for Financial Literacy, which is hosting the Initiative. There it lists the various ways you can make a donation, including via QCDs, a Donor-Advised Fund, and direct donations.

I used the contact form on the Bogle Center website to ask for a contact person with whom I could discuss the mechanics of making the donation. I promptly received a very kind emailed reply from Christine Benz, Bogle Center President, who put me in touch with Mike Piper, the Bogle Center’s Treasurer. This itself was a thrill as I was now emailing back and forth with two stars of the investment world, and they couldn’t have been nicer.

Coincidentally, in my studying up on QCDs, one of the most helpful articles I read was this short one by Mike.

Here’s the information I received from Mike on how to make a QCD donation for Jonathan’s Initiative:

Hi Andrew.

As Christine said, we are grateful that you’re considering a qualified charitable distribution to the Bogle Center to fund the Jonathan Clements Getting Going on Savings Initiative. Contributions made to the initiative are being processed through the Bogle Center (i.e., made as donations to the Bogle Center).

Through the end of 2025, all donations to the Bogle Center are being directed toward the Clements Initiative (unless explicitly requested to be used for some other purpose). Starting in 2026, if you let us know that the donation is intended for the Clements Initiative, we’ll make sure the assets are directed toward the restricted funds account for the initiative. (emphasis added)

Below is the information that you’re likely to need.

 Organization’s full name: The John C. Bogle Center for Financial Literacy

Taxpayer ID (aka EIN): 27-4067736

Mailing Address:

The John C. Bogle Center for Financial Literacy

2028 E Ben White Blvd #240-1975

Austin TX 78741

Finally, speaking not in my role as Bogle Center Treasurer but just as a CPA in general, in order to make sure that the distribution counts as a QCD, it’s important that the distribution be made out to the charity, rather than to yourself. (It’s okay if the check is made out to the charity, but mailed to you, so that you can scan and forward it to the charity.)

If you have any other questions, please don’t hesitate to ask.

Thanks,

Mike Piper, CPA/PFS

Treasurer, The John C Bogle Center for Financial Literacy

 Mike later added this: 

I would also recommend including a brief note (with your name, address, email) along with the check when mailing it. In my opinion, this is a best practice when sending any non-profit a qualified charitable distribution, in order to make it as easy as possible for the charity to send you the receipt for your donation.

I then had Schwab mail me a QCD check from my SIMPLE IRA, made payable to the John C. Bogle Center for Financial Literacy. Once received, I scanned it for my records and mailed it off to the address Mike provided (USPS Ground Advantage with tracking). I included a cover letter with the information Mike suggested above.

I later followed up with Karen Damato, Bogle Center Secretary and another investment world star, who explained that their mailing address is a “virtual mailbox company”, which scans letters and emails the scans to her. She further explained that any checks are bundled by the mailbox company and mailed to the Bogle Center’s bank for deposit. Once received at the bank, Mike emailed me a receipt for my tax records.

The time from mailing the check to the virtual mailbox company to receiving the emailed receipt from Mike was 15 days. Of course, prior to that, it took a few days to receive the requested check from Schwab.

The whole process was easy and pleasant, but it does take some time. So I hope anyone considering a QCD or other type donation they want to count for 2025 will get started right away, and before the holidays jam us all up. In fact, in Mike’s article I linked above, he cautions:

Better to do any QCDs relatively early in the year, so that there’s plenty of time for these things to resolve themselves, within the same tax year.

In my case, I waited till early October to begin the QCD process. I needed a good estimate of my 2025 income so I’d know the amount of total QCDs needed to avoid an IRMAA cliff, and I couldn’t arrive at that estimate till later in the year. But for those in a different situation, as per Mike’s advice, earlier could be better.

So, instead of cutting it so close for this year, you can wait till early 2026 and do it then. If donating in 2026, just be sure to add a note, per Mike’s email above, that the donation is for the Jonathan Clements Initiative. (And if QCDs aren’t an option, keep in mind that starting in 2026 you can make a deductible donation of up to $1000, or $2000 if married filing jointly, even if you don’t itemize, so that’s another option.)

Finally, Mike and Karen kindly agreed to let me add their email addresses so you can contact them with any questions:

mpiper@bogle.center         kdamato@bogle.center

Thanks to everyone who has already contributed, and to those who are planning to do so in the future. This is the legacy that Jonathan desired, and I’m glad we can honor him in this way.