• Are you 70 ½ or older?
• Do you have a taxable IRA?

If you answer ‘yes’ to both those questions, it could benefit you to read on. A QCD is a charitable donation made with a withdrawal directly from your IRA and provided to a charity—such as your church. If done this way, you are not required to pay income tax on the withdrawal, which would be taxable income if taken out for another purpose.

It’s an easy way to pay your pledge to INUUC. It also counts towards any Required Minimum Distribution (RMD) that IRA holders are required to take.

Simply contact the bank or financial institution that holds your IRA and tell them you wish to make a QCD, the name and contact information for the charity, and they will do the rest. To pay your INUUC pledge, ask them to send a check made out to INUUC to 411 S Washington, Spokane, WA 99204. All we need is your name to apply the funds to your pledge.

If you have questions, or wish to discuss specifics of your situation, please contact treasurer@inuuc.org, and I’m happy to talk with you. You may also wish to consider paying your pledge with a gift of appreciated stock. INUUC would immediately liquidate the stocks for cash, but it could be advantageous to your tax situation. Thanks for your continuing support of our church,
Marie Bjork-Haugen
She/her
INUUC Treasurer

(FYI, if you make a QCD, you cannot use the donation as an itemized deduction on your income tax return. Sadly the IRS isn’t going to give us both a tax free withdrawal and a tax deduction for the same money.)