FAITH INTO ACTION NOVEMBER, 2021 NOTRE DAME SISTERS 3501 State Street, Omaha, NE 68112 (402) 455.2994 | NotreDameSisters.org
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Your IRA can benefit the Sisters in this special limited-time circumstance When you use the IRA charitable rollover to support the Notre Dame Sisters, you have peace of mind knowing that your dollars are going to women supporting your community in many different ways. Last year, Congress made a significant change -- no one had to make a minimum distribution from their IRAs. You can make this required minimum distribution (RMD) work for you. Last year as part of special legislation, Congress said there would be no RMDs in 2020. This year, the RMD came back for everyone 72 and older. We understand. Usually, you would not like taking money from your IRA. You have saved for years and would prefer to see it grow. Worse yet, when you take the RMD, you almost always pay income tax on that distribution -- except for this instance! The IRA Charitable Rollover is an annual break from your IRA. While you still must distribute money from your IRA (if you are 72 or older) you can do it in a tax-advantaged way. If you are aged 70½ or older, you can contact your IRA administrator and ask them to make the distribution directly to the mission of the Notre Dame Sisters. Here is what you must know about this distribution: You do not pay income tax on the distribution (but also receive no income tax deduction for the donation) You receive a gift acknowledgement for the full amount of the distribution You satisfy your RMD up to $100,000 If your spouse and you have your own IRA, both of you can use the IRA Charitable Rollover The IRA charitable rollover was created in 2006 and made permanent by Congress in 2015. This giving plan is available for IRA owners who are over age 70½. It is a direct transfer from an IRA to a public charity. Call Sandra Koch, Vice President of Advancement for the Notre Dame Sisters, for more information at 402-669-1516 or email skoch@notredamesisters.org We are blessed that Omaha Magazine interviewed Sisters, alumnae, and Associates recently and wrote an incredible history article. Perched on fertile, sacred ground in Florence, all-girls Notre Dame Academy served thousands of day and boarder students from 1926-1974. The former school building, also home to the Notre Dame Sisters’ motherhouse, is a National Register of Historic Places landmark at 35th and State streets. You can read the entire article at notredamesisters.org/news.