Thursday, May 16, 2013

Is a Substantial Gift to Your Church Just Waiting to Happen?

Members of your congregation may have the power to make a substantial gift in 2013 to your church. This gift could be for general operations or could add to or begin your Endowment Fund.

All that is needed is for someone to share the good news with them!

Congress in the opening days of 2013 made it possible for a person who is over age 70 ½ to rollover up to $100,000 from an IRA to your church without increasing their taxable income or paying any additional tax.

These tax-free gifts could be $1,000, $10,000 or any amount up to $100,000, and can satisfy the required minimum distribution (RMD). This kind of gift is called a qualified charitable distribution (QCD) and is possible now through December 31, 2013.

The IRA rollover gift is a simple and easy way for your members to give to your church or favorite United Methodist ministry while not increasing their taxable income.

To participate in the IRA charitable rollover, your church member can contact his/her IRA custodian and request an amount be transferred to your church or to the Rocky Mountain United Methodist Foundation for the benefit of your church.

If you have any questions about this great opportunity, please contact the United Methodist Foundation, 303-778-6370. The Foundation has emailed and will soon email to each church a packet of materials that are designed to help communicate this information to church members.