Charitable Contributions
IT'S NEVER TOO LATE TO MAKE A DIFFERENCE
As retirees, we give to community
impact because we can see the
difference our dollars make right
here in the Cape Fear region where
we live. We don’t have the expertise
to determine what non-profits are
making the most difference, but we
know United Way has a rigorous
review process, and we can feel
good that our dollars are going
where they’ll do the most good.
Lori and Allen Feezer
How does philanthropy fit into your financial plan?
Required Minimum Distribution (RMD) is the minimum amount that individuals who have reached age 70½ are required to withdraw annually from their retirement accounts, such as Traditional IRAs and 401(k)s. The Qualified Charitable Contribution (QCD) is a taxefficient way for eligible individuals to donate to qualified charities like the United Way of the Cape Fear Area (UWCFA). Here are some advantages of making a QCD to the UWCFA:
Tax Benefits: A QCD allows individuals to donate up to $100,000 of their RMD to a qualified charity like the UWCFA. This amount counts towards their RMD and is excluded from their taxable income, which can help lower their tax bill.
Charitable Giving: Making a QCD to the UWCFA allows individuals to support a charitable cause that they care about. The UWCFA is a local charity that serves the Cape Fear area, and donations can be used to support a variety of programs and initiatives that help people in need.
Community Impact: Donating to the UWCFA through a QCD can have a significant impact on the local community. The UWCFA supports a range of programs and services that address critical needs, such as education, health, and financial stability.
Simplicity: Making a QCD to the UWCFA is a simple process. Individuals can instruct their IRA custodian to make a direct transfer to the UWCFA, which can save time and effort compared to other forms of charitable giving.
Overall, making a QCD to the UWCFA is a tax-efficient and impactful way for eligible individuals to support a local charity that is making a difference in the Cape Fear area.
Call Tommy Taylor, CEO of United Way of the Cape Fear Area
to learn about Qualified Charitable Contributions at 910-789-0302
Retirement is an exciting time full of transition, change and new opportunities.
Whether you're planning for this adventure or have already embarked, United Way invites you to expand your community involvement, participate in volunteer opportunities, join in social events, continue giving, and more during your retirement. Retire United members are retirees (or soon-to-be-retirees) who recognize the important role volunteerism and philanthropy play in strengthening our community.
