Giving a Qualified Charitable Distribution
Can I give from my IRA to support the work of Jesus at the Abbey?
Yes, ask your IRA custodian to make a Qualified Charitable Distribution directly from
your IRA to the Abbey of the Most Holy Mother. As a church the Abbey can receive gift from
you directly from your IRA and the amount transferred will not be counted as taxable income
The popular law allowing seniors over 70-1/2 to make donations directly from IRA's to
charities has been extended. This applies to donations up to $100,000. If you are like many
individuals, your IRA has increased in value over the years and you may have more income
than you need. Rather than taking your required distribution as taxable income, ask your IRA
custodian to transfer this required payout to your church. Although your transfer will not
qualify as a charitable income tax deduction, your distribution rollover will not be taxable
income. Your church receives a nice gift and you avoid any additional tax..
Possibly you have made gifts up to your Federal limit of 50% of your adjusted gross
income for this year. With an IRA rollover gift you can transfer excess funds from your IRA
and still make your regular year-end gifts up to the Federal level. It's easy to make your IRA
rollover by directing your IRA custodian to transfer a portion of your required distribution
directly to Abbey of the Most Holy Mother. To begin your transfer just click here to download
a form you complete and forward to your IRA custodian.
Contact the Abbey to learn how you can give to fulfill the calling in your heart to
serve in the flock of Jesus, while allowing the Holy Spirit to ensure your financial
comfort for years to come.