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A recent donor was able to avoid including his RMD in 2013 taxable income by directing his IRA custodian to issue a check directly to Unity Foundation. His generous contribution was designated to a charitable organization in which he had a special interest. He was able to convert tax dollars to funds that will benefit our community forever! That’s not magic—it’s smart planning.
A recent donor was able to avoid including his RMD in 2013 taxable income by directing his IRA custodian to issue a check directly to Unity Foundation. His generous contribution was designated to a charitable organization in which he had a special interest. He was able to convert tax dollars to funds that will benefit our community forever! That’s not magic—it’s smart planning.
The American Taxpayer Relief Act of 2012 (H.R. 8) extended the IRA charitable rollover through December 31, 2013. The provision permits tax-free distributions to any eligible charity from an IRA held by someone age 70½ or older of up to $100,000 per taxpayer. This contribution qualifies for the Required Minimum Distribution (RMD). How many of your clients can this help? The end of the year is fast approaching.
If you or your clients would like assistance, please feel free to contact Maggi or Warren at 219-879-0327.
MICHIGAN CITY, IN —Unity Foundation of La Porte County is accepting applications online for its 2023 Community “Power for Good” Grants through Friday, July 21. Organizations may apply for up to $5,000 to fund projects that strengthen La Porte County in meaningful ways. Eligible applicants include nonprofit 501(c)(3) organizations located in or serving La Porte […]
LA PORTE COUNTY, IN — Two local leaders are serving on the 2023 Board of Directors for the Indiana Philanthropy Alliance (IPA). Maggi Spartz, President of Unity Foundation of La Porte County was elected as Chair of the IPA board for 2023. She has served on the board for eight years and on various committees. […]
