Make a Gift Through an IRA Charitable Rollover
Normally, a distribution from your IRA is taxed as ordinary income. However, tax legislation just enacted extends the opportunity for the remainder of 2010 and throughout 2011 for individuals 70 1/2 or older to make a direct distribution from your IRA to a qualified charity, such as Our Lady of Refuge, the Catholic Services Appeal, the Archdiocese of Detroit Endowment Foundation, Sacred Heart Major Seminary or another archdiocesan institution. Such qualified distributions to charity from your IRA are not subject to income tax. The new law also provides that you may consider such distributions made in January 2011 as made in 2010.
For more information about how you and the Church can benefit from an IRA charitable rollover, contact the parish office or the Archdiocese of Detroit Department of Development and Stewardship at (313) 883-8771 or e-mail at email@example.com or visit “Giving Opportunities” on the archdiocese website at www.aodonline.org.
For additional information, visit the Archdiocese of Detroit’s “Planned Giving” webpage.