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Year End Gift Planning for Individuals Age 70½ and Above
As you make plans to purchase gifts for your loved one this Christmas, please remember your parish in your planning. As part of the CARES Act, Congress has temporarily eliminated most required minimum distributions (RMD) from retirement plans during 2020. Check with your financial advisor to see how this might affect you even without an RMD.
A qualified certified distribution (QCD) remains a great way to make a tax-free gift to your parish or other qualified 501(c)(3) organizations, including the established local funds (managed by the Catholic Community Foundation and the Community Foundation Alliance of Perry and Spencer Counties). You must be at least 70½ years old to take advantage of this opportunity. In recent years some parishioners have adopted this practice to meet their annual stewardship obligations – a yearly tax-free gift to support parish ministries, programs and activities. Some, too, have taken their QCD to designate it as a perpetual gift to one or more parish endowments - to support the ongoing and future pastoral ministries, long-term care of the church building or cemetery.
For more information or confidential conversation about QCD, contact Tina Boehm, Finance Coordinator, St. Boniface Parish and St. Meinrad Parish.
Chart of Accounts for Restricted Gifts
Information to share with your financial advisor for qualified certified distribution (QCD).
St. Boniface Parish EIN# 35-0942660
Sunday and Holy Day (4010.400)
Endowment for Cemetery Care and Maintenance (4852.100)
Endowment for Church Care and Maintenance (4852.200)
Endowment for Pastoral Ministries and General Operations (4852.300)
Endowment for Perpetual Care of the Giesecke Pipe Organ (1898) Organ ID#3845 (4852.500)
Endowment for Conservation and Repair of Bells and Bellframes (4852.600)
Steward’s of God’s Grace Campaign—church parking pavement and security system upgrades (4902.400)
General Fund (4040.400)St. Meinrad Parish EIN# 35-6029952
Sunday and Holy Day (4010.400)
Endowment for Cemetery Care and Maintenance (4852.100)
Endowment for Church Care and Maintenance(4852.200)
Endowment for Pastoral Ministries and General Operations (4852.300)
Parish Activities Center Building Fund (4900.400)
General Fund (4040.400)
For more information or confidential conversation about QCD, contact Tina Boehm, Finance Coordinator, St. Boniface Parish and St. Meinrad Parish.