Making a Qualified Charitable Distribution from your IRA
A Great Way to Support The Lyceum!
Consider making a non-deductible gift to The Lyceum by using a Qualified Charitable Distribution (QCD).
Typically, if you are age 72 or older, IRS rules require you to take required minimum distributions (RMDs) each year from your tax-deferred retirement accounts. In 2020, the CARES Act temporarily waives required minimum distributions (RMDs) for all types of retirement plans (including IRAs, 401(k)s, 403(b)s, 457(b)s, and inherited IRA plans). This includes the first RMD, which individuals may have delayed from 2019 until April 1, 2020. However, you may still want to consider making a charitable gift using your retirement plan.
A few points to know:
Leverage Your Gift With The Lyceum’s 60 for 60 Backer Challenge!
In honor of our 60th Anniversary, all NEW gifts or the INCREASED portion of renewed gifts will be matched up to a total of $60,000. Help us meet the challenge!
Consult your financial planner or tax advisor to determine if making a QCD is appropriate for your situation.