Planned Giving Opportunities

 

     A new tax law was signed on December 17, 2010, which allows you to donate up to $100,000 from your IRA directly to a charity without any tax penalty.  Each year you are required to withdraw a minimum amount from your IRA, and now charitable contributions can satisfy that requirement.

     Previously, each time you withdrew from your IRA, the amount increases your Adjusted Gross Income (AGI).  This can lead to taxation of your Social Security benefits and miscellaneous deductions not meeting the required percentage of AGI.  Now, the charitable contribution is excluded from taxable income and won’t increase your AGI.

     You don't have to be a big donor to take advantage of this opportunity. Perhaps your required minimum distribution is only $10,000, but you normally give $5,000 to qualified charities. You can transfer half to charity, and only the other half will increase your AGI. This simple change could be enough to keep your Social Security from being taxed.

     IRA Charitable Rollovers are just one way to save you money and we ask that you discuss all Planned Giving Opportunities with your attorney, tax preparer or financial advisor throughout the year.  If you have made provisions for a planned gift to United Methodist Children’s Home Foundation or have any questions about planned giving please contact:

Kay Zibby, Vice President of Operations

(618) 242-1070 ext. 255 or kayz@umchome.org

 

Heritage Builders

Sustaining the Mission & Ministry of UMCH

     We hope that you prayerfully consider becoming a Heritage Builder by designating a gift to United Methodist Children’s Home Foundation in your estate.  We thank the following individuals who have joined Heritage Builders by making provisions for a gift to UMCH Foundation in their estate plan:

Phillip “Mike” Beard

Sharon S. Benke

Glen Brasel

Marjorie Brooks

Robert P. Coats

Don & Norma Fairchild

Peggy Hester

Fern Leslie

Gordon & Gretchen Roberts

Rev. Dr. Joe Scheets

Jim & Ellen Walker

Darla Wexstten

Paul & Sue Widicus

Clete Winkelmann

Randy Winn

Viva Wright

Kay Zibby

2 additional members wish to remain anonymous