IRA Charitable Giving

If you are 70 1/2 years old and have an IRA, you are required to take a Minimum Required Distribution (RMD) every year. Under IRS rules, you can take advantage of a simple way to benefit Avery Church and receive tax benefits in return. Gifts up to $100,000 from an IRA can be transferred directly to a qualified charity. The transfer generates neither taxable income nor tax deductions. This means your gift can be put to use right away and you can see the impact of your donation at work at Avery Church. This IRS law no longer has an expiration date, so you may make annual gifts this year and into the future.

If you have not yet taken your RMD for the year, your IRA Charitable rollover gift can satisfy all or part of that requirement. For example, you could take any percentage of the RMD tax free (RMDs are typically taxed at 20% Federal and 5% State tax rates) and send it directly to Avery Church as a memorial gift or to satisfy part of your annual stewardship pledge. The remainder of your RMD can be directed to you (and taxed) or to a second qualified charity.

For more information, contact a member of Avery Stewardship and Finance Committee, or member of Avery Financial Committee.