Consider an IRA Charitable Rollover to LUM

Satisfy Your Required IRA Distribution & Pay No Tax

DID YOU KNOW?

Did you know that you are required by the IRS to take required minimum distributions from your IRA(s) each year soon after you turn 72 years old?*

When planning your IRA withdrawal strategy, you might consider making charitable donations to Lafayette Urban Ministry through a Qualified Charitable Distribution, also known as an IRA charitable rollover. Since LUM is a qualified 501(c)(3) charity, your gift can be made directly from your IRA to LUM.

The ADVANTAGES are as follows:

  • It’s an easy way to make an investment in LUM from one of your major assets.
  • It satisfies all or part of your annual mandatory distribution requirement at age 70 ½ and older.
  • It is excluded from income so you pay no federal tax on this amount, and avoid potentially being moved into a higher tax bracket.
  • For more details, visit the IRS site HERE

Once you’re ready, direct the administrator of your IRA(s) to make the charitable distribution(s) directly from your IRA(s) to Lafayette Urban Ministry, Inc. For more information, you may email or call Wes Tillett, LUM executive director (wtillett@lumserve.org | 765-423-2691).


Here is some helpful information:

  • For more details, visit the IRS site HERE
  • To calculate your mandatory minimum withdrawal use the IRA Required Minimum Distribution Worksheet, click HERE
  • For a sample letter to your IRA administrator, click HERE

* {If you reached the age of 70½ in 2019 the prior rule applies, and you must take your first RMD by April 1, 2020. If you reach age 70½ in 2020 or later you must take your first RMD by April 1 of the year after you reach 72.}

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