A LIFELONG – AND TAX-FREE! – LEGACY

Did you know you can give any amount (up to a maximum of $105,000) this year from your IRA directly
to the Lifelong Legacy Campaign without having to pay income taxes on the money? You can feel good
knowing that you are making a difference today and for future generations of library users.

SEE YOUR LEGACY AT WORK

The IRA offers a popular gift option, commonly called the IRA charitable rollover, or qualified charitable
distribution (QCD for short). Gifts of any value $105,000 or less are eligible for this benefit and you can
feel good knowing that you are making a difference for the Modesto Library today.

DON’T WAIT – ASK YOUR FINANCIAL ADVISOR HOW YOUR GIFT TO THE LIBRARY CAN BE MADE TAX FREE

A charitable rollover, or qualified charitable distribution (QCD) can be distributed directly from your IRA
and is 100% tax-free. But don’t wait. You’ll want to contact your financial advisor soon to complete the
transaction before the end of the year.

A TIMELESS – AND TIMELY – GIFT

For those 70½ years old and older with IRA accounts, a charitable rollover or QCD allows individuals to
give up to $105,000 directly to a qualified charity like Friends of the Modesto Library, which is a 501c (3)
organization (Fed Tax ID 77-0038333).

4 REASONS TO CONSIDER A DIRECT CONTRIBUTION TO THE LIBRARY FROM YOUR IRA

• Your gift will be put to use today, allowing you to see the difference your donation is making.
• If you are required to take minimum distributions, you can use your gift to satisfy all or part of your obligation.
• You pay no income taxes on the gift. The transfer generates neither taxable income nor a tax
• deduction, so you benefit even if you do not itemize your deductions.
• Since the gift doesn’t count as income, it can reduce your annual income level. This may help lower your Medicare premiums and decrease the amount of Social Security that is subject to tax.