Find ways to help local non-profits

To the editor:

I often want to help but am not sure how.

Arts Place is in the middle of a capital fundraising campaign to shore up the building needing repairs and expand program areas.

I am confident a lot of you or your family have experienced programs at Arts Place. First Steps in Music, Arts in the Parks, performances like Jay County Civic Theatre’s production of “Shrek the Musical” and Arts Place’s Farewell Angelina concert, and the Stitch ’N’ Chatter Quilt Club Show are some things our family has enjoyed.

Here is a strategy you may not know about: 

If you or someone you know is turning the milestone age of 70 (actually 70½) you must start taking money from your retirement accounts and pay the necessary taxes. There is a formula based on age/mortality for these required minimum distributions (RMDs) based on age/mortality. (Your accountant or financial institution/advisor can help.)

Maybe you would like to direct those funds to Arts Place or another non-profit to help with a cause you care about and avoid taxes or reduce taxes?

Well, you can.

You can direct those funds or a portion of those funds to an organization of your choice and reduce or eliminate the taxes. You might ask, ”Does this mean they will be directed there forever?”

No, you get to decide every year, if appropriate for your situation.

I had a birthday recently, though not a 70th birthday. However, as I age, it is becoming less and less about gifts and parties and more about the impact I have on my girls and my community.

I used to call Indianapolis home but now Jay County is home. Jay County is my community and I've planted deep roots and hopefully planted some seeds today.

Food for thought,

Michele Goldman 

Portland