IRA Charitable Contributions

Hello, Hello, Hello! Your SGUUF Stewardship Committee wants you to know it’s possible to make donations to San Gabriel UU Fellowship from your IRA account. In anticipation of the burning questions this raises like, ‘is this distribution from my IRA tax deductible’ we compiled this FAQ. In particular, it discusses what could be done with a Required Minimum Distribution (RMD) from your IRA. If you’ve reached 70 1⁄2 years of age (or greater!), then you know you’re required to withdraw a certain amount from your IRA each year, and that withdrawal gets treated as taxable income. Designating some (or all) of this distribution as a donation to a Qualified Charitable Organization (QCO) such as the San Gabriel Unitarian Universalist Fellowship means you only pay taxes on the portion of distribution not donated to a QCO. In addition, the table below discusses the tax benefits of making future bequest from your IRA to a charitable organization such as SGUUF. For additional information email the Stewardship at stewardship@sangabrieluu.org.

*Frequently Asked Questions*	IRA Charitable Distribution Today	*Beneficiary Designation for a Future Bequest*
Who can make this kind of gift?	People age 70 ½ and older.	Anyone at any time.
Is there a limit to how much I can give?	Yes, $100,000 per donor, per year.	No limit, but may require spousal approval if over 50% of account total.
How do I make this gift?	Fill out a form provided by your plan administrator.	Fill out a designated beneficiary form provided by your plan administrator.
Will my gift be subject to income or estate tax?	As long as your gift is made directly from your plan administrator to us, qualifying IRA gifts will not be subject to federal income tax and will count toward your required minimum distribution.	No, your gift would not be subject to tax (although a comparable gift made to your heirs would be taxable).
How do I let SGUUF know about my IRA gift?	Some companies do not provide the donor’s name with IRA distributions. Email or call us with the name of your financial institution and amount of your gift.	Please contact us. We can provide assistance as needed and would love to thank you for your gift.