Use an IRA to save on taxes and support Catholic causes through The Catholic Foundation!
If you are 70 ½ or older and have to take a minimum distribution from your IRA, did you know that you can transfer up to $100,000 to an endowment fund at the Catholic Foundation? The Charitable IRA Rollover allows donors to transfer up to $100,000 from a traditional or Roth IRA to a qualified charity like The Catholic Foundation. By rolling over the IRA distribution, donors avoid having to claim the distribution as gross income on their taxes. Transfers must be made directly from an IRA custodian to The Catholic Foundation in order to qualify.
If you would like to support a favorite Catholic church, school, or ministry through an IRA contact Scott Hartman (614-443-8893 or firstname.lastname@example.org) for additional details.
Don’t forget, all transfers must be completed by Friday, December 29 in order to qualify as a 2017 rollover!