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Think Like a Philanthropist!

October 3, 2019

If you’re 70-1/2 or older and own one or more IRAs, thanks to federal legislation passed in 2015 you can make a special tax-wise gift directly to Cedar Lane through your IRA without writing a personal check.

You pay no income tax on this direct transfer while lessening the amount of your taxable income.

It’s called an IRA Charitable Rollover gift, and it’s simple to do. To make it happen, simply inform the custodian of your IRA that you wish to make a direct transfer (specify the dollar amount) from your IRA to:

Cedar Lane Unitarian Universalist Church
9601 Cedar Lane, Bethesda, MD, 20814.
Federal Tax ID number 52-0629773

Many donors direct a portion of their annual Required Minimum Distribution (RMD) from their IRA to accomplish this. The annual limit on making such transfers to charity is $100,000.

Prior to making this commitment, be sure to discuss this with your financial advisor, CPA or estate planner in order to coordinate with your overall financial and estate plan.

Please inform Cedar Lane’s executive director Jen Morley of your intentions, including the name of the custodian of your IRA. You may call Jen at (301) 493-8300 x209 or email her at jmorley@cedarlane.org. Thank you!