Support MHJC through your IRA

Contribute to Manetto Hill Jewish Center AND save on taxes. It’s possible when you support MHJC through your IRA.

Donate (up to $105,000) to MHJC with a Qualified Charitable Distribution (QCD) without paying federal income taxes on your donation.  The QCD will count towards your annual Required Minimum Distribution (RMD) and you allow you to save 20% or more on your federal taxes and support MHJC. Give more, save more.

If you are over 70 ½, contact your IRA Administrator and say, “I want to make a QCD to MHJC” today!   They can send the check to you or to MHJC.  Everyone wins.

–              Make a Giving Tuesday donation

–              Make an “end of calendar year” donation

–              Make a Directed Donation

–              Pay off your Sustaining Pledge

–              Many more donation possibilities available

See below for more information.

DISCLAIMER
Information on this email is not intended as legal or tax advice. Please consult your professional advisor for information on how any gift may affect your tax situation.

The IRA Charitable Rollover Law (permanently extended) allows individuals 70½ or older to give up to $105,000 directly from their IRA to MHJC without paying federal income tax on the distribution. If you wish to make a tax-free gift to benefit MHJC for Giving Tuesday (December 3), before the end of 2024 or for any other reason, a Qualified Charitable Distribution (QCD) from your IRA is a great option.

Some details include (but are not limited to):

• Donors must be age 70½ or older at the time the gift is made.
• Each donor may donate up to $105,000 per year. For couples, each spouse may donate up to $105,000.
• Only traditional IRAs are eligible. A 401k or 403b would need to be rolled over into an IRA to be eligible.

• Donors must ask their plan administrator to make a direct transfer of funds to a MHJC (Tax ID 11-2208111). It is important not to withdraw funds before making a gift.
• To qualify for tax-free treatment, donors cannot receive goods, services, or a personal benefit (such as tickets for events) in return for the QCD.
• Example – If you want to give MHJC $5,000 through a QCD, MHJC will receive the full $5,000 and you will not be taxed.  If you donate from your IRA without the QCD, MHJC will receive approximately $4,000 and you will pay at least $1,000 in taxes.  That’s a $1,000 difference that MHJC does not receive, and you pay as taxes.