Your Gift of Literacy Will Transform the Lives of Adults and Families in Delaware County
Whether you donate online or send a check, your gift to the Delaware County Literacy Council (DCLC) helps local adults to gain the skills they need to get a job, keep a job, become citizens, read to their children, and take charge of their lives. Your donation is tax-deductible to the extent allowable by law.
A Special Opportunity for Those 70 1/2 Years Old and Older
Make a difference today and save on taxes. It is possible when you support DCLC through your IRA. You can give any amount (up to a maximum of $100,000) per year from your IRA directly to a qualified charity such as DCLC without having to pay income taxes on the money. Gifts of any value $100,000 or less are eligible for this benefit and you can feel good knowing that you are making a difference at DCLC. This gift option is commonly called the IRA charitable rollover, but you may also see it referred to as a qualified charitable distribution, or QCD for short.
Why Consider This Gift?
- Beginning in the year you turn 73, you can use your gift to satisfy all or part of all your required minimum distribution (RMD).
- You pay no income taxes on the gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your deductions.
- Since the gift doesn’t count as income, it can reduce your annual income leve. This may help lower your Medicare premiums and decrease the amount of Social Security that is subject to tax.
- Your gift will be put to use today, allowing you to see the difference your donation is making.