Contribute to Chabad of Venice with your IRA!
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Your support of the work of Chabad of Venice strengthens Jewish life, education, combats antisemitism and strengthens the connection of Jews to one another and to Israel.
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While doing your tax planning for 2023, using your IRA to contribute to Chabad of Venice could save you significant tax dollars. Under IRS regulations, persons 70 ½ and over can make tax-free gifts from their IRAs to their favorite charities. If you are over 72, you must take the required minimum distributions (RMD).
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Suppose you are over 70½ and have already started taking your RMD. Or you just turned 72 and must begin taking your RMD. Under current IRS regulations, you can choose to make direct charitable gifts from your IRA (with a maximum of $100,000 per person) to public charities, such as Chabad of Venice.
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These contributions are tax-free and satisfy the IRS that you comply with RMD rules. The amount you contribute will NOT be included in your adjusted gross income and offers many tax advantages whether you take the standard deduction or itemize.
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Because of the tax advantages of donating from your IRA, this retirement bucket is the optimal asset you should consider for your charitable donations. You should not take such distributions personally when you donate to Chabad of Venice from your IRA. Tell your IRA administrator to donate directly to Chabad of Venice on your behalf.
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The address to send IRA rollover donations is:
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Chabad of Venice & North Port
21560 Angela Lane
Venice, FL 34293
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We hope you find this information helpful. Our Team is available to answer any questions – please contact us at:
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For regular Year End donations, go to www.ChabadofVenice.com/donate
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Thank you in advance for your continued support of Chabad of Venice & North Port!
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