LUCKY 70 and 1/2 CLUB
If you are 70 1/2, you are eligible to make a Qualified Charitable Distribution by transferring funds directly from your IRA to a charity and Our Lady of the Lake Together Campaign qualifies!!! You are eligible to give up to $100,000 per year in this way and your spouse can do the same.
At the lucky age of 70 1/2, you must start receiving income from your IRA which is 100% taxable to you - EXCEPT for the amount you transfer as a QCD - short for Qualified Charitable Distribution.
You can plan to do this each year for the five-year campaign pledge period as a wonderful way to fund a generous pledge to Our Lady of the Lake, Together Let Us Go Forth Campaign.
If you have funds in a Profit Sharing Plan such as 401K, you also have the option to roll it over to an IRA, and then make a QCD.
As always, you should check with your investment or tax advisor. They have the forms to make this easy.
If you have any questions, please contact our Campaign Director, Donna Marino at the parish office: 928-855-2685
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