REQUIRED MINIMUM DISTRIBUTIONS
Once you reach age 73, you are required to take minimum distributions (RMDs) from your individual retirement account every year. You can donate all or a portion of your RMDs, up to $100,000 a year, directly to Dilworth Lutheran Church. This is called a qualified charitable distribution (QCD). Retirees can give up to $100,000 to charity tax-free from an IRA and have it count as their required minimum distribution for the year. A qualified charitable distribution counts toward your required minimum distribution. You initiate this transaction with your broker, and the gift is sent directly to the church.