End of Year Faith Fund Donation
Do you have an IRA and are you subject to a required minimum distribution (RMD)? Are you thinking of making a year-end gift to the Faith Fund? If so, why not have your IRA administrator issue a check directly to St. Timothy’s Faith Fund as a qualified charitable distribution. Rather than taking the RMD withdrawal, depositing it in your account, writing the check to the Faith Fund, and deducting it on your tax return, the qualified charitable distribution, unlike an RMD, doesn’t inflate your adjusted gross income. For more information on how this might be right for you, consult your investment advisor or IRA administrator.
The Faith Fund is an endowment created in 2023 by the St. Timothy’s Vestry. This endowment will greatly benefit St. Timothy’s for generations to come. The earnings from the Faith Fund will enable St. Timothy’s to more completely fulfill its mission by providing funds for its ministries and capital needs beyond what is possible through its annual operating funds.