IRA and Donor-Advised Fund Gifts

Presented by Chief Financial Credit Union

Published in: Update - Issue 3 - 2017 »   

Many people age 70½ and older find that the distribution they are required to draw from their Individual Retirement Account (IRA) exceeds their needs. So, they end up paying income taxes on funds they currently do not need. If this is your situation, there is a special provision allowing you to make a gift to Leader Dog directly from your IRA without having to pay taxes. This provision lets you maximize tax savings while making a positive impact on people who are blind or visually impaired.

Because of their tax benefits, donor-advised funds (DAF) are becoming another popular vehicle for charitable giving.

Making a gift to Leader Dog through your DAF helps ensure that we are here for generations to come. “I find that gifting the minimum required distribution from my IRA to Leader Dogs for the Blind is a great way to reduce my taxable income,” says Dr. Allen Turcke, Leader Dog donor. “My donor-advised fund is another good way to support Leader Dog, and my other favorite charities, by donating some of my assets while I am still alive… and I get to see where my money is going.”

Please contact Lora Cabarios, director of national personal giving, at 248/650.7109 or Roberta Trzos, manager of gift planning, at 248/659.5014 for further information.