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NEWS

CURRENT HAPPENINGS AT THE VILLAGE AT ROCKVILLE.

 

Permanent IRA Tax Benefit for Donations

January 1, 2017

Qualified Charitable Distributions (QCD) from IRAs have been made permanent through the PATH Act of 2015. This legislation allows individuals 70 ½ or older to direct a portion or all of the annual required minimum distribution (RMD) to a charity or charities of their choice, tax free.

Some of the guidelines to cause an IRA distribution to occur are:

  • Persons 70 ½ or older may distribute up to $100,000 annually to one or more qualifying charities
  • Distribution must be made from a traditional IRA or Roth IRA to a public charity
  • Distribution must go directly to charity to be tax free
  • Letter to IRA administrator is required to facilitate gift
  • Letter to charity is needed for the charity to know who caused the distribution to occur

Check with National Lutheran’s philanthropy team, your IRA administrator or your tax advisor for more information. Our team can be reached at:

Marta Spangler, Director of Philanthropy
The Village at Rockville
mspangler@thevillageatrockville.org
301-354-8422

Tim Peifer, Director of Philanthropy
The Village at Orchard Ridge & The Legacy at North Augusta
tpeifer@thevillageatorchardridge.org
540-431-2827

Kathryn Baerwald, Chief Philanthropy Officer
National Lutheran Communities & Services
kbaerwald@nationallutheran.org
301-354-2703