Thank you for considering a donation to The JDS Legacy Fund!
To make a contribution online, please click on the “Donate” button.
If you prefer, you may make a donation by check.
Please make checks payable to:
Haddonfield Educational Trust with “JDS Legacy Fund” in the memo line:
JDS Legacy Fund
PO Box 178
Haddonfield NJ 08033
Potential Tax Savings Opportunity through Donation to the JDS Legacy Fund
Please note that this information is not financial advice. You should always consult with a financial advisor and/or tax professional before making decisions regarding your personal finances.
We do appreciate your desire to help build the fund which will support future theater arts students and young professionals. Many of you have saved through the years in IRA and ROTH IRA accounts. At age 70 ½ there is a requirement to take a minimum distributions of funds from ROTH IRA accounts. At the time of the distribution of funds from those accounts, part or all of that distribution may be taxable. At the time of this writing, there is a provision within the Federal Law allowing someone to directly donate part or all of the proceeds from their RMD (Required Minimum Distribution) to a non-profit organization. The direct donation provides two benefits. First, the donation helps strengthen the JDS Legacy Fund. Second, and important to the donor, the donation reduces the amount of taxable income to the ROTH IRA holder, which may reduce the amount of taxes paid on that income during 2022.
The tax provision, called the qualified charitable distribution, helps taxpayers, especially those who don’t itemize deductions, get a tax break for donations of as much as $100,000 a year. The charitable distribution counts toward the RMD but doesn’t count as income.
If you have a ROTH IRA account, are over 70 ½ years of age this year, and are interested in helping grow the JDS Legacy Fund, please consult your financial advisor for details on how to donate some or all of your Required Minimum Distribution.