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Make a Difference with Your IRA: A Tax-Free Way to Support MCH

The picturesque Rindge Congregational Church covered in snow during sunset, with a white gazebo in the foreground and bare winter trees
Make a Difference with Your IRA: A Tax-Free Way to Support MCH
Leverage Your IRA for a Greater Good

How Donating Your Required Minimum Distribution Can Benefit You and Your Community Hospital

When planning your finances, it’s essential to consider how your assets can not only benefit you but also make a positive impact on your community. For individuals aged 70 1/2 and older, there’s a tax-efficient way to do just that—by donating your Required Minimum Distribution (RMD) from your IRA directly to Monadnock Community Hospital (MCH).

Why Consider a Qualified Charitable Distribution?

Each year, those over 70 1/2 are required to take a distribution from their traditional IRAs, known as a Required Minimum Distribution (RMD). This distribution is treated as ordinary income, which can potentially push you into a higher tax bracket. However, by making a Qualified Charitable Distribution (QCD) to a qualified charity like MCH, you can exclude the donated amount from your taxable income.

This means you can fulfill your RMD obligation while simultaneously lowering your tax bill—a win-win scenario. For those who don’t need the additional income this year, contributing your RMD to MCH is an excellent way to support our mission of providing high-quality healthcare to the community.

How It Works

  • Eligibility: To take advantage of this opportunity, you must be at least 70 1/2 years old.
  • Contribution Limit: You can donate up to $100,000 annually from your IRA to a qualified charity like MCH.
  • Tax Benefits: The amount donated will not be included in your taxable income, which can help you avoid moving into a higher tax bracket.
  • Impact: Your donation will directly support essential services and programs at Monadnock Community Hospital, ensuring that we can continue to offer top-notch care to our community.

How to Get Started

If you’re interested in making a Qualified Charitable Distribution to MCH, the process is straightforward. Contact your IRA custodian to request that your RMD be sent directly to Monadnock Community Hospital. For detailed guidance and to ensure everything is handled correctly, feel free to reach out to Laura Gingras at 603-924-4666.

A Simple, Tax-Efficient Way to Give Back

By donating your RMD to MCH, you’re not only helping yourself by reducing your taxable income but also supporting a vital community resource. Your generosity will help us continue to provide exceptional healthcare services to those who need it most.

Take this opportunity to make a meaningful impact. Your support is crucial to our mission, and together, we can ensure that Monadnock Community Hospital remains a cornerstone of health and wellness in our community.

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