Retirement Funds and Required Minimum Distributions (RMD)

Money from your individual retirement account is a wonderful gift for Victory Junction. If you’ve reached the age where you need to make a required minimum distribution (RMD) from your traditional IRA, you can avoid paying taxes on your RMD by donating that money to charity.

Normally, a distribution from your traditional IRA incurs taxes since most don’t pay taxes on the money when they put it into the IRA. But, account holders 70 ½ years or older who make a contribution directly from a traditional IRA to Victory Junction can donate up to $100,000 without it being considered a taxable distribution.

Benefits of Gifts of Retirement Funds and RMD
● You can avoid paying taxes, and/or…
● Your estate will not have to pay estate taxes on your funds
● You make an impact for the kids at Victory Junction!

How To Do It
Retirement funds can easily be donated to Victory Junction. Contact your advisor and ask them to donate your RMD directly to Camp. You can also name Victory Junction as the beneficiary or partial beneficiary of your retirement account, simply be contacting your advisor and updating your beneficiary designation form.

We’re Here to Help
If you would like more information about donating retirement assets, or if you have named camp as a beneficiary, please contact Tonya Hayes at thayes@victoryjunction.org or 336.495.2041.

Contacting us will also ensure you are properly thanked for your contribution and receive updates on the impact of your gift.

45 Club
When naming camp as your beneficiary, it’s helpful to let us know. Sharing your plans for the future allows Camp to better plan for ours. It also allows us an opportunity to thank you personally and to include you in Camp’s 45 Club – which honors those committed to Camp’s future.

Please Note:
This site is informational and educational in nature. It is not offering professional tax, legal, or accounting advice. For specific advice about the effect of any planning concept on your tax or financial situation or with your estate, please consult a qualified professional advisor.

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