IRA Program
"Help yourself while helping Marian Catholic! Save on your taxes by giving to Marian Catholic High School!
Once you reach the age of 72, the IRS will require you to withdraw a minimum amount from your IRA each year.
This is called Required Minimum Distribution (RMD). If you receive the RMD, it will be taxed as ordinary income.
If Marian Catholic receives this distribution directly, you can completely avoid all tax on the RMD.
This creates a perfect solution for gifting to Marian Catholic AND eliminating taxes in the amount of your
distributions. It works for me and it can work for you, too! A blessing for us and for Marian Catholic High School.
— Jim Sauka ’66, P ’93, ’94, ’96, ‘00
Would you like to support Marian Catholic in a more tax-efficient manner?
Are you retired or nearing retirement?
If you answered yes to these questions, consider making a qualified charitable distribution (QCD) from your IRA beginning at age 701/2 years old. A QCD allows you to reduce your taxable income, meet the required minimum distribution (if you are over the age of 72) and achieve your charitable giving goals to Marian Catholic, all in one easy transaction.
Not yet 701/2? You can still plan ahead!
Consider making Marian Catholic the beneficiary of your IRA — an easy way to create a meaningful legacy for the future without affecting your current assets or cash flow.
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Avoid taxes on transfers of up to $100,000 from your traditional IRA to support Marian Catholic High School.
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Reduce your taxable income, even if you do not itemize deductions.
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Maximize the benefit of a Qualified Charitable Distribution from your traditional IRA.
Questions? Contact Dr. Erin Marek, Director of Advancement, at advancement@mariancatholichs.org or 570-467-3335 ext 115.
Always consult your tax professional. The information presented is not intended as legal or tax advice.