If you are 70 1/2 years or older and have an Individual Retirement Account (IRA), you have a unique opportunity to offer a tax-free financial contribution to a charitable organization. This donation is called an IRA "Qualified Charitable Distribution" or "QCD." We aren't qualified to provide official tax advice. For that, you should always consult an accounting professional. However, according to the IRS, the QCD transfer offers eligible older Americans a straightforward way to give to charity before the end of the year. And, for those who are at least 73 years old, QCDs count toward the IRA owner's required minimum distribution (RMD) for the year. Normally, distributions from a traditional IRA are taxable when received. With a QCD, however, these distributions become tax-free as long as they're paid directly from the IRA to an eligible charitable organization. Also, the QCD must be made directly by the IRA trustee to the charitable organization. ...you can exclude up to $100,000 of these QCDs from gross income annually. For a married couple, if both spouses are age 70½ or over when the distributions are made and both have IRAs, each spouse can exclude up to $100,000 for a total of up to $200,000 per year. To qualify for a QCD, the IRS states that the IRA owner must be age 70½ or over when the distribution is made. This means you can exclude up to $100,000 of these QCDs from gross income annually. For a married couple, if both spouses are age 70½ or over when the distributions are made and both have IRAs, each spouse can exclude up to $100,000 for a total of up to $200,000 per year.
Not all charities are eligible for this contribution. To qualify, a charity must be a 501(c)3 and eligible to receive tax-deductible contributions. This presents a unique giving opportunity for individuals to contribute to HOME International, Inc., a 501(c)3 organization. To learn more, visit irs.gov. Contact Alisha Wambolt to offer a Qualified Charitable Distribution to HOME International, Inc. Your contribution will help extend a compassionate hand to women, children, and families facing adversity, fostering positive transformations in their lives and communities.
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Doug progressed with his financial goals to where he was ready to move into his own housing. His desire to have a queen bed was met as Welcome Home Thrift donated a queen bed frame, mattress, and box spring. Doug was grateful!
One of Doug's mentors had this to share about the experience: Homes of Hope offers a fully furnished home in Adamstown that does a good job of helping families transition from insecurity to stable housing. Volunteers from the Cocalico area spend a lot of time working directly with their residents. Doug faced a health crisis that disrupted his livelihood. In this challenging time, Homes of Hope stepped in, providing a safe haven for Doug and his daughters. With the guidance of a financial coach, Doug was able to manage his resources, explore new income opportunities, and start rebuilding his life. While providing housing for people like Doug and his family, the organization was challenged by the lack of time and storage space to keep extra household furnishings and clothing accessible. Through the strategic partnership of HOME International's Welcome Home Initiative, this need is met! Home International, Inc. provides complimentary gift cards to its nonprofit thrift store, Welcome Home Thrift & More. We come alongside organizations like Homes of Hope to provide virtually any clothing or household need as it arises. Kendra S., the coordinator for the Adamstown Homes of Hope home, says, "When Doug said he needed a queen-size bed for his new rental, it was a huge blessing for him and for Homes of Hope that Welcome Home provided a bed at no cost. "Our partnership with Welcome Home has been a source of immense relief and gratitude. Their support in Doug's journey over the past several months has been invaluable. By providing him with a 'hand up,' they have empowered him to leave our program with the confidence to provide a stable home for his three daughters. This is a significant milestone for Doug, as it marks the first time he has a home of his own. We are truly grateful for Welcome Home's effective and impactful ministry, both locally and globally. "This quote sums up my thoughts: 'To be active in your work for God is one thing; to be effective in that work is quite another.' We are thankful that Welcome Home is effective in its ministry locally and abroad." Thanks to Kendra and the Homes of Hope team for their work in the community and for their ongoing partnership with Home International, Inc. When you donate clothing, accessories, home furnishings, and funds, you become a part of Doug's story and many others like it. Learn more about how you can participate in the Welcome Home Initiative. From dark places in life, stories of resilience and community support shine brightly. This is a story about a young woman we'll call "Diana," whose path toward stability and renewal was guided by the partnership of two local community services. After she fled from domestic violence with her two young boys, aged 2 and 4, Diana needed shelter, essentials, and a fresh start.
She secured immediate housing and essential support through HOME International's Welcome Home Thrift & More and Good Samaritan Services. This marked the beginning of her journey towards stability. Diana shares, "I was grateful for the swift response from Good Samaritan Services, which gave us a safe place to stay. Welcome Home played a crucial role by offering assistance with clothing for my boys and me." Through this support, Diana was able to meet her family's basic needs and focus on rebuilding their lives. She later secured a new job and found the clothing she needed at Welcome Home to make a positive start. Diana expressed deep gratitude for the care and assistance she received, which turned a moment of crisis into a journey of hope and resilience. "The collaboration between Welcome Home and Good Sam truly made a difference in our lives. It went beyond just having a place to stay; it's a community that cares and empowers. To everyone involved in these organizations, your support has been invaluable. Thank you for being there when we needed it most." Through the Welcome Home initiative and Welcome Home Thrift & More, two vital components of HOME International's local outreach, complimentary gift cards are provided to various nonprofit organizations throughout Lancaster County. Click here to learn more or to support this program. |
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