A donor recently shared with me memories of her years of involvement with Cunningham Children’s Home. She talked about how much she enjoyed her interaction with the Cunningham staff and United Methodist Women from all over the state. But mostly she was inspired by stories of how the program at Cunningham had given kids hope and changed their lives.
As a Guardian Parent she appreciates that annual operating gifts are critical to support the day- to-day needs of our kids. But she also felt moved to support the campaign to build the Education and Recreation Center (ERC). She was even more eager when told that progress was being made toward construction with a ground breaking in sight for July 2017. With her help, the kids at Cunningham could be in a new school by fall of 2018. Determined to find a way to both continue her annual giving and support the ERC, she did a little research.
As she looked for giving options she found that she could give to Cunningham directly from her Individual Retirement Account (IRA) without having to pay taxes on the distribution. She originally planned to make a one-time gift. But by taking advantage of a “qualified charitable distribution” from her IRA she would be able to make a multi-year pledge and have an annual distribution made directly to the ERC campaign. She is excited that she can play a bigger part in the effort to make the ERC a reality, providing a state of the art education and therapy environment for the kids at Cunningham.
Giving with a qualified charitable distribution from an IRA is actually pretty simple. The legal requirements are as follows:
• The gift must be from an IRA or Roth IRA.
• The owner of the IRA must have reached the age of 70 ½
• The gift must be sent directly from the IRA trustee to the organization with no intervening possession or ownership by the IRA owner
• The contribution must be made to an organization that would qualify as a charitable organization under Sec 170(b)(1)(a) other than a private foundation or donor advised fund.
To find out more or to make arrangements to make a gift in this manner, you should contact your IRA trustee. You will want to give the trustee instructions to make a transfer in the amount of your donation directly to Cunningham Children’s Home. I can provide you with a sample letter that includes important details to share with your trustee to accurately complete the transaction.
This is a great way to make any kind of gift to Cunningham Children’s Home. For more information about how to make a gift through your IRA please talk with your fund trustee. To learn more about the ERC project contact me or any member of the Cunningham Advancement Team.