Guatemala Mission Partnership Holds Virtual Fundraiser
On Saturday, Nov. 7, the Guatemala Mission Partnership (GMP) held its first ever virtual fundraiser by creating a fundraising video that premiered on YouTube.
The fundraising team did a lot of advanced planning to make this happen: researching best practices, recording and editing the video, and updating their website and Facebook page. They spread the word several ways: an online event and email marketing campaign through their website, their new YouTube Channel, and their Facebook page.
If you are 70-1/2 or older, you can donate up to $100,000 per tax year directly from an Individual Retirement Account (IRA) to charities like Living Waters for the World (EIN 82-2041626).
Qualified Charitable Distributions (QCD), otherwise known as IRA charitable rollovers or IRA gifts, are a great way to support our lifesaving work by allowing your dollars to go further: QCDs may be excluded from your taxable income and qualify towards your required minimum distribution (RMD).
How to make an IRA qualified charitable distribution
Here are the steps to take to make a gift from your IRA:
Contact your IRA administrator and instruct that person to transfer funds to Living Waters for the World (EIN: 82-2041626).
Help us credit your gift and thank you by having your IRA administrator include your full name and mailing address on the gift. Also, have your administrator note that the transfer is an IRA Qualified Charitable Distribution.
If you'd like to make a QCD gift, your financial institution should make the check out to "Living Waters for the World" and identify you as the donor by name and address.
They can mail the check to:
Living Waters for the World
5016 Spedale Ct #399
Spring Hill, TN 37174
If you prefer, you can download and complete our rollover gift initiation form. Send the completed form to your IRA trustee, who will complete your distribution.
What are the IRA charitable rollover rules?
Here's how a Qualified Charitable Distribution (QCD) works:
You must be 70-1/2 or older at the time of gifting your IRA to charity.
You may distribute an amount, up to $100,000 in a calendar year, to one or more public charities, so long as it is completed by December 31 of that year.
Your IRA administrator must make the distribution directly to the charity, or you may write a check to the charity from your IRA checkbook. Funds that are withdrawn by you and then contributed do not qualify.
Benefits of making an IRA gift
QCDs count toward your required minimum distribution for the year. If you have to take your required minimum distribution but you don't want or need the funds, QCDs are a good way to distribute the amount out of the IRA. As an added benefit, you'll avoid paying income tax on your gross income up to $100,000.
If you have questions, please contact Executive Director Steve Young at 615-261-4008.