Through the end of 2019, federal law required everyone age 70 ½ and older to take a Required Minimum Distribution annually from their IRA account. For those who turn 70 ½ after 2019, you can now wait until you’re age 72 to start making those mandated annual withdrawals from your retirement account. Regardless, all mandated annual withdrawals increase your taxable income. But, if the distribution is made directly to St. John the Divine, the entire withdrawal distribution amount given to the church is excluded from taxable income. This transaction is known as a Qualified Charitable Distribution. The direct transfer to St. John the Divine can be accomplished simply and with great tax savings to you by contacting your IRA account administrator. We ask that the check, which must be made out to St. John the Divine, has your name on it and states that this is from your IRA. As always, please contact your financial advisor regarding your individual situation

Contact Louise Symmes, director of generosity at lsymmes@sjd.org or 713.354.2218 with questions or for more information!