Did you know donating part or all unused retirement assets is one option donors can choose to give to the Catholic Ministry Appeal and their parish? However, many who could benefit from giving this way are not making the choice to do so.

“People may not know or understand how giving from an IRA works,” shared Annmarie Nichter, Corpus Christi parishioner. “Many non-profits inform their supporters about giving this way. It’s important to let our parishioners know our Church is a qualified non-profit and can benefit from a Required Minimum Distribution (RMD) contribution”.

This type of giving from an individual retirement account (IRA) is sometimes referred to as an “IRA Charitable Rollover Gift” because a donor is “rolling” a distribution directly to a charity. Distributions made directly from a Traditional IRA to a charity can be used to satisfy all or a portion of the RMD for those 70 ½ or older, (each year). Also, this type of gift can help an individual reduce federal income taxes because it is not added into their annual income, may help to avoid the Medicare high income surcharge, may reduce income tax on social security benefits, and also possibly reduce income taxes.

CLICK HERE to download more information about gifts made through an IRA.