Anyone at least 70-1/2 years of age may make a charitable donation of up to $100,000 with no federal income tax impact from an individual retirement account (IRA or Roth IRA).
Additionally, this legislation benefits you and your family.
As you may know, individuals 70-1/2 or older are required to withdraw funds from their IRAs each year. Normally, no matter how they eventually choose to use the money, it is considered taxable income.
Under this special legislation, however, donations will not be taxed. This means that a person obligated to withdraw $12,000 from his IRA could donate $10,000 to charity and would need to report only $2,000 in IRA distributions on his tax return.
Please note that to take advantage of this opportunity you must contact your IRA trustee or custodian to direct the funds to the for distribution to the Katz Jewish Community Center.
Please indicate in the letter accompanying your distribution or in the memo section of the distribution check how and where you would like your contribution directed. We will make certain that your intentions are fulfilled.
Should you choose to include the Katz Jewish Community Center as part of your plan, we would be deeply grateful. If you have any questions, please contact Brian Adler, at 609-822-1167 x159 or email@example.com
The Katz Jewish Community Center is a home to our entire community thanks to your kindness, generosity and support.