November 2017 Treasurer’s Report

OVER 70 ½ with IRAs? Have you heard about QCDs, qualified charitable distributions from individual retirement accounts (IRAs). If you are over 70 ½ and have IRAs, you can designate your IRA Trustee or Custodian to send gifts directly to a qualified charity, like the Fellowship. Money cannot go to you or an account of yours first. You avoid paying income tax on the money and all the other implications of a higher adjusted gross income or AGI. If done properly, the transfer counts toward an IRA owner’s required minimum distribution. Ask your IRA Trustee or Custodian and/or tax accountant about whether it is right for you. You cannot also deduct the contribution as a charitable deduction. The transfer is tax-free but not deductible.

Learn more about financially supporting our Fellowship from Treasurer Kathleen Oldfather at kjoldfather@gmail.com.