https://wiki.mygoodshepherd.net/index.php?action=history&feed=atom&title=FinancesFinances - Revision history2026-05-27T16:19:06ZRevision history for this page on the wikiMediaWiki 1.39.2https://wiki.mygoodshepherd.net/index.php?title=Finances&diff=69&oldid=prevKeith: added2024-07-31T16:10:47Z<p>added</p>
<p><b>New page</b></p><div>=== RMD (QCD) ===<br />
At 70.5 years of age, a member can contribute to the church from their IRA's RMD (known as a QCD). When the church receives such a contribution, it should not give a tax-deductible receipt or include the contribution in its giving database, but rather, should give an acknowledgment of the contribution with "the date received, what was received, i.e. a qualified charitable distribution of $25,000, and the name of the donor (the holder of the retirement account)." Source: [https://www.unyumc.org/news/article/how-churches-should-handle-a-donation-from-a-members-retirement-account?cmdf=rmd+church+statement website].<br />
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Good Shepherd's letter has typically read:<blockquote>This letter affirms that we received as a contribution to our congregation, Lutheran Church of the Good Shepherd (EIN: 59-1087048), a check in the amount of '''$XXXX''' from FINANCIAL INSTITUTION on behalf of MEMBER on DATE. Goods or services provided in return for the contribution consisted entirely of intangible religious benefits.</blockquote></div>Keith