You may be able to support the mission of Newport Presbyterian Church through a Qualified Charitable Distribution from your Individual Retirement Account (IRA).

 

Benefits

 

Your Qualified Charitable Distribution:

​

• May be directed toward your pledge or be part of a legacy gift.

• Can satisfy Required Minimum Distributions in the year is it made.

• Is not included in your Adjusted Gross Income, potentially avoiding increased taxes on Social Security income, higher Medicare premiums, and the loss of deductions/exemptions.

• Is tax efficient, even if you use the standard deduction.

 

Requirements

 

To make a Qualified Charitable Distribution to Newport Presbyterian Church:

​

• You must be age 70½ or older at the time of the donation.

• The distribution must be made directly to Newport Presbyterian Church from your IRA account.

• The distribution must be an otherwise taxable distribution from an IRA (other than an ongoing SEP or SIMPLE IRA).

• There is a $100,000 annual limit per donor.

 

If you think a Qualified Charitable Distribution might be a good way for you to support Newport Presbyterian Church, please consult your tax advisor and IRA custodian (Fidelity, Vanguard, T. Rowe Price, etc.) to ensure that your donation meets all IRS requirements and the IRA custodian’s procedures.  Qualified Charitable Distributions made in December may require special coordination with your IRA custodian.