Margaret was a retired librarian. She volunteered at her favorite charity several times a week and also made several donations to the charity each year. Margaret saw that her taxes were increasing and wondered how she could continue to do extra things like make charitable gifts with lower income.
Margaret: I have been fortunate that I could make gifts to charity every year. I have been a long time supporter and would like to continue making gifts.
I started looking at ways to save money and continue supporting charity. I talked to my favorite charity and learned that I could transfer money directly from my IRA to charity.
An individual who is age 70½ and older can transfer up to $100,000 per year directly to charity.
Margaret called her IRA custodian and requested a transfer of $10,000 from her IRA directly to our organization.
Margaret: I knew that I would never use all of the money in my IRA. I was thrilled to learn that a gift from my IRA could help my favorite charity.
Your Savings, Your Legacy.
You have worked hard and saved for your retirement and your hard work has paid off. Now use your savings to create your legacy by making a qualified charitable distribution through your IRA. If you are 70½ or older you can use your individual retirement account (IRA) to support Guthrie. Visit our website to learn how you can create your legacy by making a qualified charitable distribution through your IRA this year. Ready to talk now? Please give us a call at 570-887-4420.
What are the benefits?
Reduce your taxable income, even if you do not itemize deductions.
Make a gift that is not subject to the deduction limits on charitable gifts.
Use your qualified chartable distribution to make payments on an existing pledge to us.