New Tax Law Makes it Easier to Give

How to Give from your IRA

Under the Pension Protection Act of 2006 you are provided with a uunique opportunity. Under this Act, indviduals who are 70.5+ can make a charitable contribution (up to $100,000) directly from a traditional IRA to a qualified charity, and the amount distributed is not included in the IRA owner's income. The distribution must be made from the IRA directly to the qualified charity.

By going directly to the charity the money is not taxed, preserving the full amount for charitable purposes. This type of "IRA rollover" is taken into account for RMD's (required minimum distributions).

Catholic Peoples Foundation, which is the fundrasing arm of the Diocese of Gallup, is a qualified 501c3, thus making us eligible to receive this type of chraritable gift. Information for making an EFT (Electronic Funds Transfer) to Catholic Peoples Foundation can be obtained by contacting our office at 505.726.8295.