Year End Giving Options
Bill faces a situation not unlike many of our donors. Financially stable, Bill is at an age where he has to begin to take withdrawals from his IRA account.
When looking at his options Bill chose to send his required minimum distribution to Sacred Heart Southern Missions. Bill lives in a small town in our service area and has seen firsthand how Sacred Heart Southern Missions has touched and changed lives. “I had a neighbor who was in a tough spot and you really helped them. We have a lot of poverty here in Mississippi and I know your work makes a difference.”
Recently made permanent The IRA Charitable Rollover allows individuals over age 701⁄2 to directly transfer up to $100,000 per year from an IRA account to one or more charities. This transfer counts toward the minimum required distribution rule for IRA accounts, and such distributions are free of both income and estate taxes. While you cannot take a tax deduction for these gifts you do not have to count them towards your taxable income either. The key is these distributions must go directly to the charity.
Perhaps you have contemplated how to best handle your required distributions from an IRA. A gift to Sacred Heart Southern Missions can not only help your tax situation but make an incredible difference in the life of a poor individual or family. When you reflect on the legacy you’d like to leave behind these gifts make a strong statement about you and your faith.
If you have any further questions or need other information please contact our Planned Giving department at 888.217.4829 or email us at Plannedgiving@shsm.org
Questions
Call or email Steve, Earlene or Faye in our Planned Giving Department at 888.217.4829
