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Year-End IRA Charitable Contributions
As we approach the end of the year and contemplate end-of-year philanthropic contributions, families holding IRAs may want to consider a year-end gift through your IRA.
When you make a qualified charitable distribution (QCD) to St. John’s Lutheran Church and School from your IRA, the benefits are two-fold; you benefit from not having to pay income taxes on that withdrawal, and St. John’s continues to be able to fund our missions and outreach efforts by impacting our community with God’s love and saving grace.
If you are 70.5 or older, you can give any amount (up to $100,000 annually) directly from your IRA to St. John’s Lutheran Church. If you are 72 or older, this charitable gift from your IRA can also be used to satisfy all or part of your required minimum distribution (RMD).
If you plan to have your gift count toward your RMD, we encourage you to start this process early as there have been mail delays throughout the year. If you have check writing privileges for your IRA, the check must clear your account by December 31 to be counted inside the tax year.
If you have any questions on how to set-up a donation from your IRA, please reach out to Julie Rauch in our Finance Office (j.rauch@stjohnslagrange.org).
We thank you for your support and for
being part of the St. John’s mission.
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