Finances

RMD (QCD)

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: website.

Good Shepherd's letter has typically read:

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.