Making the Most of Your Required Minimum Distribution

Are you over the age of 73 and thinking about how to allocate your required minimum distributions (RMD’s) from a retirement account? The beginning of the year is an ideal time to think through your minimum distributions (and take advantage of available tax benefits on those distributions). Qualified Charitable Distributions (QCDs) let you give directly to your church or the Great Lake Conference from your retirement account, avoiding the income taxes you would normally pay on required withdrawals. You can learn more about required IRA minimum distributions and tax-free gifts from our ECC Affiliate, the Covenant Trust Company here: covenanttrust.com/using-an-ira-to-save-for-retirement-and-give-to-your-favorite-charity-or-cause. Or email Seth Hicks, our regional CTC representative at [email protected]. As always, you should consult with your tax advisor before making significant financial decisions. First priority in charitable giving should always be your local church. But if you have margin for additional giving, please consider a contribution to the Great Lakes Conference to help us support the work of the 74 GLC churches and 3 camps in MI, OH, KY, TN, VA, WV, OH, PA and NY in their efforts to advance the Gospel in their communities. We serve to (1) help strengthen local ministry in our mosaic of urban, suburban, small town, small city and rural churches, (2) help start new churches in urban, suburban and rural communities, (3) help develop both clergy and lay leaders for service to the local church, and (4) support local initiatives in evangelism and outreach. Opportunities include contributions to a church plant project, the pastors-in-crisis fund, scholarships for Pastors to continue their growth, general fund, etc.  You can read in much more depth about our ministry here:  www.greatlakes.cc. After you have given to your church, the Great Lakes Conference would be honored to receive whatever portion of your required minimum distribution you are willing to give to support the work we do for churches. For information on how to give a portion of your required minimum distribution (and the kinds of distributions we can receive) contact Rob Westphal at [email protected]. Thanks in advance for your support of your local church and for your consideration of a contribution to the Great Lakes Conference.