Are you age 70 ½ or older and subject to a Required Minimum Distribution from a retirement account? Did you know you can donate up to $100,000.00 a year directly from a traditional or Roth IRA to qualifying charities? Known as “qualified charitable distributions” (QCDs), they can be used to satisfy required minimum distributions from your IRA without having the distribution included in your income.
Most public charities, like True Care, (our corporate name is The Caring Center, Inc), that are eligible to receive tax-deductible contributions, qualify. See your tax advisor or financial planner for more information.
True Care’s Board of Directors made the decision in 2010 to start working on an endowment program (a special savings account) to ensure this vital ministry is here for many years to come. The funds in this special account are invested. The hope is that one day the account will generate interest that can be used to help pay the operating expenses of True Care.
We have not conducted a campaign– we have simply shared with friends the opportunity to include True Care in their long-range plans. This inclusion may be in a will, insurance policy, charitable trust, or an outright gift to the endowment fund. As a result of our efforts we have been blessed to be the recipients of three bequests, one paid up life-insurance policy and some cash gifts. Several other friends have indicated they have made arrangements for a planned gift that will out-live them!
For folks who are 70 ½ or older: another way to give is to donate the required minimum distribution from your IRA. This could actually save you money in taxes! For more information, see your tax or investment advisor.
“The greatest opportunity to leave an eternal legacy is now. America’s two older generations hold 80% of the global church’s wealth…enough to fund the expansion of God’s kingdom worldwide for generations.”
– Rev. James R. Harden, M.Div President, CompassCare Pregnancy Services