Maximize Giving Potential through Retirement Account Distributions
Discover how to leverage Required Minimum Distributions (RMD) from your retirement accounts to amplify your charitable contributions to Monument Presbyterian Church. Explore a tax-efficient approach to boosting your giving power and ensuring your donations make a meaningful impact. Take advantage of the special offering opportunities and streamline the process with direct distributions to the church. Plan your giving strategy effectively while maximizing tax benefits and empowering the mission of Monument Presbyterian Church.
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Presentation Transcript
Monument Presbyterian Monument Presbyterian Church Church Minute for Stewardship
Discover a new possible avenue for giving Discover a new possible avenue for giving IRS requires that you start removing funds from your retirement accounts after you reach the age of 70 . This is called your RMD or Required Minimum Distribution. Check the IRS website for when you need to start our first RMD Use the RMD table to calculate the amount of your RMD.
MPC is a non MPC is a non- -profit faith profit faith- -based corporation based corporation Your offeerings/donations to MPC are deductible (talk to your tax consultant) You can have your annual RMD sent Directly to MPC as your offering/donation Normally, distributions of your RMD are taxed at withdrawal Direct distributions of your retirement accounts to MPC are not taxed Your giving power could be increased by not being taxed Possibly from 10% to 24% more This could be a special offering/gift or part of your annual giving plan
MPC has opened a stock brokerage account for MPC has opened a stock brokerage account for this purpose this purpose RMD distributions can be sent directly to MPC in your name RMD distributions of stock can be sent to the MPC brokerage account in your name For transfers, check with the church office for brokerage account info Check with your financial advisor to confirm any individual requirements A summary of all tithes, offerings and donations will be recorded and provided to you at the end of the calendar year for tax reporting
