Donate Your IRA
If an individual has an IRA, at a certain age they must begin drawing a Required Minimum Distribution. Unfortunately, this distribution is taxed as ordinary income and increases tax liability.
However, turning that Required Minimum Distribution into a Qualified Charitable Distribution—by giving it directly to a qualified non-profit such as St. Vincent de Paul—means one does not have to pay taxes on that charitable amount.
The recent SECURE Act increased the Required Minimum Distribution age to 72 years, up from 70 ½ years. However, this development applies only to folks who reach 70 ½ after 2019. So if you turned 70 ½ in 2019 or earlier, you are unaffected by the new law.
Despite the SECURE Act delay in the starting age for Required Minimum Distributions, Qualified Charitable Distributions may still be taken from IRAs as early as age 70 ½ .
If you would like to learn more about giving to St. Vincent de Paul with your IRA, please call Michael Vanderburgh, Executive Director, directly at 937.802.3890.
Or you can complete the form below and we will contact you right away to answer any questions you may have.