By: Sarah MacGillivray, District 7780 Foundation Public Image Coordinator
Bath Sunrise’s Satellite Club: Pine Tree State e-club
SHARE your IRA
You worked hard for your IRA! Now Rotary International has a way you may put your IRA to work doing good in the world through tax-efficient donations to The Rotary Foundation. There is a new initiative that is launching around Zone 32, a way to share your IRA with the world through Rotary. The 70+ initiative is our Rotary Zone-wide effort to encourage Rotarians to consider the benefits and opportunities of a charitable gift via their IRA.
How to SHARE your IRA
Starting at age 70 1/2, the IRS allows individuals to make a tax-free distribution or qualified charitable distribution (QCD) from their IRA directly to a charity of their choice. In the years after you turn 72, you can use your gift to satisfy all or part of your required minimum distribution (RMD), which is required annually when you reach this age.
This tool for giving can be a win-win as it may reduce taxable income. It can also fulfill an existing pledge or establish a new three-year-pledge, and it can even help you achieve your next Major Donor status, including the Arch Klumph Society. An individual retirement account can also be used as a tax-wise giving strategy if you’re considering including The Rotary Foundation in your estate plans.
Check out the flyer to learn more.(Click Here) We encourage you to first contact your tax and/or financial advisor to determine if this is the best strategy for you. To learn more, please contact District 7780 Fund Development Chair Brenda Cressey rotarybrenda@gmail.com or District 7780 Foundation Chair Dave Underhill dave.underhill.nh@gmail.com.
Thank you for the many ways you support OUR Rotary Foundation. Have a wonderful holiday season.