Giving Through Your IRA
Your IRA: A Tax-Wise Way to Give
You can do more with your IRA than you ever imagined.
Did you know that when you reach a certain age you are required to withdraw a minimum amount from your IRA account each calendar year?
Beginning in 2020, the new tax law increases the Required Minimum Distribution (RMD) age from 70 1/2 to 72 years of age. If you or your spouse are 72 years of age or older, you can take advantage of a simple way to support the foundation today and receive tax benefits in return.
Using your annual RMD for charitable giving allows you to transfer your required distribution directly to qualifying charities using the IRA Qualified Charitable Distribution. Your distribution is then excluded from your taxable income and fulfills your RMD.
Contact your IRA plan adminstrator to make a gift from your IRA to any Raytown Educational Foundation fund.