IRA Charitable Rollover

Tree image representing the financial support of St. Raphael's Episcopal Church

Looking for an opportunityto support St. Raphael’s? Consider an IRA Charitable Rollover.

If you own an IRA and are 70½ or older, you can reduce your annual taxable income from the Required Minimum Distribution you required by the IRS Regulations to take annually. This can be accomplished with an IRA Charitable Rollover made payable to St. Raphael’s Church. 


This may be a great idea for you!

Why? What are the benefits of an IRA Charitable Rollover?

-  The funds received help support the mission and operations of St. Raphael’s.

-  It helps you avoid tax payments on transfers of up to $100,000.

-  It satisfies your Required Minimum Distribution without increasing your taxable income. This is even more beneficial under the new 2018 tax law that significantly reduces the maximum allowable itemized deductions available.

-  It can reduce your taxable income even if you do not itemize deductions.

-  Due to the nature of an IRA Charitable Rollover, the amount contributed will not be eligible for an income tax deduction, nor will your IRA Administrator be required to withhold income tax from the amount of the rollover.


How do I make an IRA Charitable Rollover contribution directly to St. Raphael’s?

-  Instruct your IRA Administrator to make a Charitable Rollover directly from your IRA to St. Raphael’s. 

-  Your Charitable Rollover will be sent directly by your IRA Administrator to St. Raphael’s.

-  You will receive an acknowledgment of receipt from St. Raphael’s.

Would you like more information?

 

The above statements are informational only and should not be construed as providing legal or tax advisory. Please contact your IRA Administrator or tax adviser with any questions related to your personal financial situation.

Please Note

If you have questions, please contact Father John by calling the church office at 239-463-6057 or on his personal cell at 239-571-3600. You can also email him at the church office at srec@comcast.net.