Support WMJM Through Your IRA

WMJM leadership team member Julia Frisbie explains how a qualified charitable distribution from your IRA may allow you to support WMJM while meeting your required minimum distribution.

By Julia Frisbie

Did you know that charitable gifts can count toward your Required Minimum Distribution?

If you're age 73 or older, you're required to withdraw a certain amount from your traditional IRA each year. These withdrawals are typically subject to income tax. However, giving part of that amount directly to a qualifying charity may help reduce your tax burden!

Here's how it works:

1. Call your IRA custodian.

2. Request a qualified charitable distribution (QCD) to the charity of your choice, and fill out a form with the charity's information. To make a gift to WMJM this way, provide your IRA custodian with the following information:

   Check payable to: Methodist Federation for Social Action
   996 Maine Ave SW, #307
   Washington, DC 20024
   EIN: 52-2150061
   Memo line: WMJM

3. A check gets mailed directly to charity. The full amount counts toward your required minimum distribution, but you don't owe income tax on it.

Want to learn more? Watch this 2.5-minute video featuring Julia Frisbie explaining this type of charitable gift.