Denton Wesley Foundation’s mission is more critical now than ever. For many young people, a religious organization doing something Christian is a surprise. Barna Group reports that 52% of Generation Z has “little to no trust” in organized religion. At the Wesley, though, students from all backgrounds are being invited to come and see just how loving Christian community can be.
As a loyal supporter of Denton Wesley Foundation, you have a unique opportunity this year to help us further our mission. You may be eligible to move up to $100,000 from your IRA to a qualified charitable organization such as Denton Wesley Foundation.
Why Consider This Gift?
- Your gift will be utilized right away, allowing you to see the difference your donation is making.
- You pay no income taxes on the gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your deductions.
- If you have not yet taken your required minimum distribution for the year, your IRA charitable rollover gift can satisfy all or part of that requirement.
The details:
- You must be 70 ½ or older at the time your gift is made.
- The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your tax deductions.
- Qualified Charitable Distributions (QCDs) can meet all or part of your Required Minimum Distribution (RMD) from your IRA.
Your IRA rollover gift can support any fund at Denton Wesley Foundation! Your support helps embody Christ’s love on campus and empower a new generation of faithful leaders. Please contact us to discuss your options.
Call us at 682-365-9811 or email marianne@thedentonwesley.org.
How to Make a Qualified Charitable Contribution from Your IRA
Option 1:
Contact your IRA custodian and request a direct transfer to:
Denton Wesley Foundation
1155 Union Circle
#311585
Denton, TX 76203
Our tax ID number is 756004947
IMPORTANT: Do not withdraw the funds and make a contribution yourself, or you will have to report the withdrawal as taxable income. If you are requesting the transfer at the end of the tax year, allow enough time for the transfer to complete by December 31.
Option 2:
Send a gift directly to Denton Wesley Foundation using your IRA checkbook. Allow extra time for the gift to clear to take a tax deduction in the current calendar year. Contact Pastor Marianne, with your name, the exact amount of your gift, and the name of your IRA custodian so we can provide you with substantiation for your tax return. Please note that we are not able to give formal tax advice, and we strongly advise you to have these gifts reviewed by your own qualified financial or tax professional.