This is a reminder that if you are 70 ½ or older and have an IRA account, you have the opportunity to direct a portion of your “minimum annual distribution” to a qualified charity, like RVUUF or the RVUUF Endowment. This has the desired result of reducing the amount of your IRA distribution, which is taxable to you by the IRS, by the amount directed as a contribution to the charity

To effect such a charitable distribution you should contact your IRA custodian and specify that you want to make an IRA Qualified Charitable Contribution from the balance of your 2019 minimum distribution that has not already been received by you. The custodian will normally send a check directly to the charity. If the check goes from the custodian direct to RVUUF or the RVUUF Endowment, please advise Dawn in the RVUUF office to expect it.

This can be a very effective way of reducing your Federal income taxes while benefiting RVUUF or the RVUUF Endowment. It can also be a good way to pay your pledge. Ask your tax or financial advisor whether an IRA Qualified Charitable Contribution is right for you. If you have any questions, please contact Endowment Chair, Don Felt.