Giving from an IRA

Required Minimum Distribution (RMD) from an IRA

If you are at least 72 years old, and own an IRA, you are required to take a minimum pay out from this investment. You have the opportunity to make a donation to Calvary and, at the same time, reduce your taxable income by 100% of the amount of your gift. This is true whether you itemize your deductions or choose not itemize.

The rules are simple:

• You must be at least 72 years old at the time of the gift.

• You must own an IRA ( 401-K’s do not qualify)

• The investment must be transferred directly from your IRA custodian to Calvary or to Calvary’s broker

• Money paid to you and then given to Calvary will not qualify

For more information on how to set up an RMD from an IRA as a gift to Calvary, please contact Ray Slaubaugh, Managing Director of Operations, or Sandy Theile, Accountant, at 309-452-5413.

Qualified Charitable Distribution (QCD) from an IRA

If you are over 70.5 years old, even though you are not required to distribute funds from an IRA, you may still do so and reduce your taxable income by the amount of the distribution.

The rules are simple:

• You must be at least 70.5 years old at the time of the gift.

• You must own an IRA ( 401-K’s do not qualify)

• The investment must be transferred directly from your IRA custodian to Calvary or to Calvary’s broker

• Money paid to you and then given to Calvary will not qualify

For more information on how to set up a QCD from an IRA as a gift to Calvary, please contact Ray Slaubaugh, Managing Director of Operations, or Sandy Theile, Accountant, at 309-452-5413.