Retirement Plans
If you have funds in an IRA or employer-sponsored retirement plan, you can name your favorite charity as a beneficiary. Naming CASA of Lancaster and Lebanon Counties as a beneficiary can provide double tax savings. First, the charitable gift will be deductible for estate tax purposes. Second, the charity will not have to pay any income tax on the funds it receives. This mutual benefit can save combined taxes that otherwise could eat up a substantial portion of your retirement account.
Retirees can also designate their required minimum distribution (RMD) as a qualified charitable donation (QCD) starting at age 70 1/2 and it will be not be counted as a taxable distribution which effectively lowers the donor's adjusted gross income (AGI). The gift must be made directly from the IRA as a rollover to count as a charitable contribution.
Our EIN number is 26-1826650 and payment can be made directly to CASA of Lancaster & Lebanon Counties, 120 N. Shippen Street Lancaster, PA 17602
