Thankfulness for Past Kindness Inspires Generosity Today

When donor Marilyn Van Hoegarden started her required minimum distribution, she decided to directly distribute the extra income from her IRA to the Catholic Education Foundation without federal tax penalty.

For Marilyn, whose father was able to attend De LaSalle Catholic High School (1926–1930), only through the generosity of others, it was important to respond to that past kindness by providing scholarships to financially needy students today. “Directing my IRA distribution directly to the Catholic Education Foundation allows me to use some of my income to provide the blessing of a Catholic education to children who couldn’t have otherwise attended Catholic schools.”

Through Marilyn’s generosity, the Catholic Education Foundation was able to provide 12 grade school scholarships.

If you are over 70½ and are required to take a minimum distribution from your IRA, you may consider using an IRA charitable rollover—also called a qualified charitable distribution (QCD). Any gift made directly from your IRA to the Catholic Education Foundation counts toward your required minimum distribution and will not be considered taxable income. Each taxpayer can give up to $100,00 tax-free in any year. This type of gift may be particularly appropriate if you are required to take a required minimum distribution from your IRA but do not need additional income.

If you would like to learn more about how to give through the IRA charitable rollover, or how your gift makes a difference for those we serve through the Catholic Education Foundation, please contact Jane Lagger at (815) 221-6190 or Jlagger@dioceseofjoliet.org.