The words “Charitable Trust” can be substituted for “IRA Custodian”
Have you ever thought about reducing your income tax bill by giving away money?! If you are over 72 1/2 years old and have a required minimum distribution, you can direct whatever amount you wish to a non-profit like Amy’s House which reduces that amount of income you have to report. As an example, if you must take $100,000 from your investments per year, you can donate perhaps $20,000 to a charity and only pay tax on $80,000. Both you and your favorite charity are winners—you pay tax on less income, and the charity receives operating funds. Please consider Amy’s House for a such a distribution. We have several donors who do this, and for our small non-profit, these donations along with grants keep the lights on and everything functional at Amy’s House. We’d like to recognize some of our larger qualified charitable donors: John and Margaret Henderson, Eleanor Cornell, BJ Finch, Dennis & Ann Turk, David Henderson, Susan Cory. You can also create a charitable trust that simply grants money, regardless of your age and income tax requirements. Another option for giving is to make a bequest in your will. Or you could simply have your bank send a check monthly through auto-pay to Amy’s House. You will always receive an appropriate letter for the IRS even if you only contribute to a fund drive on Facebook. We want you to know that your money is never wasted. We are currently operating a full house most nights, but our executive director sticks to the budget.