A Special Way to Give to Shumla
Are you 70½ or older? Do you have an IRA?
If so, you probably know that each year you're required to distribute some of these funds. This “required minimum distribution” often results in higher taxes. But did you know that you can avoid these taxes? Federal law allows you to make direct transfers from your IRA to a charity, lowering your taxable income.
If you’ve reached your 846
month of life and must distribute funds from your IRA, Shumla would love to be the beneficiary! A gift from your IRA can help to neutralize the negative tax consequences of a required minimum distribution and it will help us to continue our work to preserve the oldest “books” in North America.
To qualify, the gift must come directly from your IRA administrator and should be made payable to Shumla, tax ID number 74-2869788.
(And thank you to the gentleman who alerted us to this special kind of giving. You know who you are. We are so grateful!)