Newsletters
359 views

Our Rotary Foundation
Consider the Rotary Foundation in Your Year-End Giving

The quote you see to the left from founder Arch C Klumph is circa 1916. It is every bit as true today as it was when he first uttered it. It is also no more profound than it is at the end of the year. How we close out a year sets the stage for what we wish to accomplish in the ensuing year.

December is the time of year when we consider what other tax benefits we hope to employ. Our first thought is always going to be about what positive impact we can have with our gifts this year on the world of today. However, we are also aware of the charitable tax deduction available to us for our outright gifts. There are a number of ways we can do so. Are you aware you can gift using your Individual Retirement Account (IRA)?

Rotarians 70 ½ years of age and older can gift directly from their IRA to the Rotary Foundation. A Qualified Charitable Distribution allows for transfers of up to $105,000 annually from an IRA without treating the distribution as taxable income.

Another way is via the Charitable Gift Annuities where Rotarians can make a one-time election of up to $53,000 from their IRA to fund a Charitable Gift Annuity. This can provide a fixed income for the rest of their lifetime.

The IRA Beneficiary, regardless of the Rotarian’s age, is yet another way to give. The Rotary Foundation can be named as a charitable beneficiary of the IRA. This approach reduces the tax burden on loved ones after the Rotarian’s lifetime.

There are so many ways to give in very meaningful ways to Rotary and certainly this is the best time of year to do so. Do consider one of the above ways to give and make that lasting difference into tomorrow by doing some good today!!

We are very fortunate to have a strong Foundation that does so much good in our World. Whether you give to polio, disaster relief or the annual fund, your contributions do make a difference. I encourage you to join me in supporting our Rotary Foundation

Posted by Bob Hagan
December 3, 2024

Comments

This Year’s Posts: