There are many ways to contribute to Central Lutheran School and Christian education. If you need assistance on any of the items below, please contact Principal Frank Parris (email@example.com) or call him at 319-223-5271.
Please contact Principal Frank Parris to obtain brokerage account information.
Contribute via a Tax-Free IRA Gift
In August 2006, the federal Pension Protection Act of 2006 was signed into law by President Bush. This law offers a tax-free gifting opportunity for IRA investors who are 70½ or older who face making required minimum distributions (RMDs).
In 2006 and 2007 only, IRA owners are allowed to donate up to $100,000 per year from their IRA plans to qualified nonprofit organizations (churches, Christian schools) and not owe any federal income tax on that money. Married couples are eligible to donate up to $200,000 from their plans.
This law is a useful way to support a charitable organization and meet your “required minimum distributions” requirement (RMDs) without boosting your adjusted gross income. IRS owners must first provide a letter of direction for a charitable rollover gift to their IRA administrator. The rollover gift amount will not be included in their federal income for income tax purposes, and the gift does not quality for a charitable income tax deduction for that year.
For more information, contact your IRA administrator.
Contribute Via Check
Donations can be mailed to us at our address. If you would like to designate your contribution towards a specific effort (i.e. Building Fund, Music), please indicate that in the memo field of your check.