If you are age 70½ or older and are required to take minimum withdrawals from your IRA, this may be a great way to make a gift to Williamsburg Presbyterian Church or the WPC Endowment Fund. While you cannot claim a charitable deduction for IRA gifts, you will not pay income tax on the amount.
If this is something you are considering, please consult with your broker or tax advisor to discuss your particular situation.
Please contact Lynne Bundick, Director of Administration, at 757-229-4235 or for further assistance, instructions and a sample letter with instructions for your IRA plan administrator. Thank you!