IRA gifts offer advantages when donating to the Franciscans

IRA gifts offer advantages when donating to the Franciscans

homeless person with bag

Make a difference today!

When you donate to the Franciscans, you know you’re making a positive difference in the lives of people in need. But did you know that some gifts, like gifts made to charity from an IRA, can offer advantages when compared to giving in other ways?

For IRA owners taking a required minimum distribution, donating IRA funds to charity offers several advantages. As IRA gifts count toward required minimum distributions, they reduce adjusted gross income – helping donors minimize their overall tax liability. This tax benefit can be realized by all IRA owners taking required distributions regardless of whether they itemize or take the standard deduction.

In addition, using an IRA gift to reduce adjusted gross income may trigger a reduction in taxable Social Security benefits or future Medicare premiums. Lowering adjusted gross income can also increase potential itemized deductions such as medical expenses or miscellaneous deductions. Depending on the donor’s state of residency, IRA gifts may help to reduce state tax liability. And, as IRA gifts pass tax-free to charity, 100% of your gift can be used to further the work of a good cause you care about – like the Franciscans.

To make a qualified charitable distribution, IRA owners must be over the age of 70 ½ and donated funds must go directly from the IRA account to charity. To learn more about IRA gifts, or to request a sample letter to send to your IRA administrator, contact Colleen Cushard @ 513-721-4700 or

Interested in more ways to support the Franciscans? Visit our Leave a Legacy page.

Posted in: Support the Friars