Charitable Giving With IRAs
Recent tax legislation now provides tax-wise charitable giving opportunities using individual retirement accounts (IRAs). A new tax law allows donors 701/2, who must begin taking mandatory distributions from their IRAs for 2006, to make charitable gifts of up to $100,000 ($200,000 for married couples) from their IRAs. This will satisfy an individual’s minimum required distribution.
It’s simple: the donor instructs the institution holding the IRA to transfer funds directly to Congregation of the Mission, which is a charitable organization. Nicknamed the IRA Charitable Rollover, it is completely tax free although not tax deductible. The donor does not report the transferred funds as income.
IRA Charitable Rollovers will require the careful planning of donors and their tax advisors, along with the involvement of institutions holding IRA accounts. Please contact Teresa Manna, Development Director, for assistance at 314-344-1184.
Give Online…
A reminder that we can accept your donations for our mission and works online. Please visit our donations page to make your gift today. As always, thank you for your kindness and generosity.The Vincentian is published bimonthly by the Midwest and Southern Provinces of the Congregation of the Mission, the Vincentian Priests and Brothers, to promote the apostolic works of its members and those of the larger Vincentian Family.
Congegration of the Mission, The Vincentian
Attn: News Editor
13663 Rider Trail North
Earth City, MO 63045
phone: 314-344-1184
fax: 314-344-2989
Contact the News Editor Online