2024 Pledge Campaigns tip

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Administrative Director

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Nov 25, 2023, 10:28:10 AM11/25/23

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This year, we're making a push to ensure that our older members know about Qualified Charitable Distributions from their IRA and how they can use these to pay their pledge as a distribution from their IRA without paying any taxes on it. What's more, it will count towards their Require Minimum Distirubtion (RMD).

NOTE: Your society must be a charity, like a 501(c)(3), in the eyes of the IRS to take advantage of this.

Here's some verbiage you can use:

"Qualified charitable distributions allow eligible IRA owners up to $100,000 in tax-free gifts to charity" says the IRS. If you’re at least 70 ½ years old and have an IRA, you probably qualify. How to find out if you qualify?

If you have a tax preparer, call him or her.
Otherwise, call the financial institution that holds your IRA, and they will be able to tell you.

The rules are not complicated, and we have several members who do this.

If you want to read up on the details, Fidelity has a good write up: https://www.fidelity.com/building-savings/learn-about-iras/required-minimum-distributions/qcds

David Bland

Administrative Director

The Ethical Culture Society of Bergen County

ad...@ethicalfocus.org; 201-836-5187

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