In 2011, holders of IRAs who are at least 70½ years old, can contribute up to $100,000 directly to a charity. Instead of withdrawing your minimum distribution from your IRA, you can have funds distributed directly to Day Nursery. This is a great way to make a generous gift to help the children and families of Day Nursery. This contribution will qualify as part or all of your IRA’s required minimum distribution.
This kind of gift to Day Nursery has so many benefits including tax savings for you. Traditionally, distributions from an IRA are taxed as regular income. However, if you gift these funds directly to Day Nursery, you will not be required to pay income tax on the distribution. Please talk to your financial advisor right away to see if you qualify. If you have additional questions, please contact me at (317)636-9197, ext. 240 or firstname.lastname@example.org.