Give tax free* with IRA

If you are 70½ years old or older, you can receive tax benefits while giving to the Catholic Foundation. take You need not pay income taxes on gifts up to $100,000 from your IRA paid directly to a qualified charity such as ours.
As of 2017 this law has no expiration date so you are free to make yearly gifts to the Catholic Foundation every year moving forward. 

Additional Information: 
 

• You must be age 70½ by the date you make the gift, not before.
• If you have retirement plans other than an IRA, under certain circumstances you can roll assets from a pension, profit sharing, 401(k) or 403(b) plan into an IRA and then make the transfer from the IRA directly to the Catholic Foundation. To determine if a rollover to an IRA is available for your plan, speak with your plan administrator.
• This gift can be used as the required minimum distribution under the law.
• You pay no income taxes on the gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your deductions.
• If you have not yet taken your required minimum distribution for the year, your IRA charitable rollover gift can satisfy all or part of that requirement.
• Keep in mind, you only receive tax benefits on $100,000 in total charitable giving each year. If you'd like to give to multiple charities like ours, your total tax-free giving must max out at $100,000. 
• If you are married, you and your spouse can each give $100,000 from your seperate IRAs. 

Don't take our word for it, consult with your tax professionals if you are contemplating any large charitable gift. You can always contact Tricia Vowels at 806-777-2089 or tvowel[email protected] with any questions you may have.

*The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results