If you are 70½ or older, you can make a tax-free gift directly to MOWAC from your Individual Retirement Account (IRA) now and for years to come. It’s a smart way to enjoy tax savings and support a worthy cause. Here’s how it works:

•Who? You must be 70½ or older to make an IRA rollover gift to MOWAC.

•What? You can give up to $100,000 from your Traditional or Roth IRA.

•How? Instruct your plan administrator to send a specific dollar amount directly to MOWAC. (You cannot withdraw the funds yourself.) MOWAC’s tax I.D. number is 94-2651065. Your IRA administrator can send the gift by check or electronic transfer. Please let us know of your charitable intentions so we can ensure your gift is processed in an accurate and timely manner.

•When? Anytime! But your gift must be completed by December 31 in order to receive the maximum benefits for the current tax year.

Benefits to You:

•RMD. Your donation will count towards your required minimum distribution for the current year.

•Tax Savings. You can exclude up to $100,000 of this gift from your federal gross income — resulting in lower taxable income and possible tax savings (A $200,000 exclusion may apply for taxpayers who are married and filing a joint return). Tip: This tax savings is especially valuable to donors who are non-itemizers and donors who have reached their limit on itemized charitable deductions.

•Impact. You will have the personal satisfaction of benefiting our community more than you may have originally thought possible.

Please consult with your financial advisor about this special opportunity.

Note: Information shared on MOWAC’s website or in related materials is not intended to take the place of legal or tax guidance from your attorney, accountant, or financial advisor.