A Helpful Option

Your Impact  |  June 15, 2018

When we think of making a charitable gift, our checkbook is often the first thing that we take out. There are other options, of course. If you’ve reached age 70 1/2 or older, your IRA might be a new source for your philanthropic gifts.

By using a “Qualified Charitable Distribution,” you can make a gift directly from your IRA to Christian Living Communities. A simple letter of instruction is all that’s needed, and, as an added benefit, a ‘QCD’ can also fulfill your Required Minimum Distribution for the year.

A direct transfer of IRA funds to CLC would not produce a charitable income tax deduction, but you also would not pay income tax on the distribution. Keeping your taxable income lower may reduce the impact to certain tax credits and deductions including Social Security and Medicare.

Instead of reaching for your checkbook, perhaps consider whether a Qualified Charitable Distribution might make more sense.  It’s always best to consult with your tax advisor before making any gifts involving IRA assets.

For more information about these gifts or the Compassion Circle, please contact Olivia Mayer at OMayer@clcmail.org or 720-974-3675. To view other giving options, click here.

Want to speak with a member of our team to see how CLC can help meet your needs?

See What Our Residents Have to Say

"I made some good friends after moving to Clermont Park. My family loves it. They have also met a lot of good people here."

- Georgia Bell, Resident

Al Binford

"Clermont Park is a great place to live. You can participate as much or as little as you want in community activities. You can meet as many people as you like, and they are generally open, so I’ve made a lot of friends in the short time I’ve been here. "

- Al Binford, Resident