4 Reasons to Give from Your IRA
October 3, 2022
Smart and Convenient Giving for Supporters Over 70 ½
Here’s an insider tip…
More and more supporters ages 70 ½ and older give to CMDA directly from their individual retirement accounts. For those who qualify, IRA gifts offer a convenient, cost-effective and powerful way to bring the hope and healing of Christ to the world through healthcare.
You can give up to $100,000 per year as a single person or $200,000 per year as a married couple from separate IRA accounts.
What makes a qualified charitable distribution from an IRA so appealing?
- If you don’t need the income, your IRA administrator can write a check directly from your account to CMDA. It’s a simple way to meet all or part of your required minimum distributions and give in a meaningful way!
- Charitable distributions reduce your taxable income. This is advantageous even if you don’t itemize deductions on your tax return.
- Gifts from your IRA can be used to fulfill any charitable giving pledges you have made.
- Any IRA distributions you make to charity will not be taxed. The entirety of your gift will go toward CMDA!
Is giving from your IRA the right solution for you? To learn more about this and other convenient and cost-effective ways to support CMDA, call Paul Montgomery at 423-844-1011 or email Paul Montgomery.