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Required Minimum Distributions: A Case Study with a REAL Person


By Mary Walker, Petrus Blog Contributor


 Cecilia (not her real name, but everything else is true) is an energized Catholic. She aims to
attend daily Mass and give her time, talent, and treasure to help others. She owns and maintains
her own home, and her son is “launched,” earning his own way in the world.

 

An accountant by profession, she retired 10 years ago at age 62 because that was the age of her
mother when she died. The decision to retire came after much prayer and discernment. With the
retirement plan from her job plus social security, Cecilia more than covers her expenses. In
addition, she has a traditional IRA, but because she doesn’t need those funds to live, she lets the
IRA money continue to grow.

 

Often, our senior benefactors, like Cecilia, view their IRAs as nest eggs—they don’t need the
available funds to live on, but they like having extra money for future expenses. However, when
they reach age 72, they MUST start...

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RMDs: The Sleeping Giant of Fundraising

iras resources Oct 02, 2019

By Mary P. Walker, Petrus Blog Contributor


I love the TV show The Profit. Marcus Lemonis, a serial entrepreneur, invests in struggling businesses and offers advice on how to turn things around. Often even small adjustments in managing people, capital, or processes yield amazing results.

Following Marcus’ lead, I’m proposing a small tweak in your development efforts that could pay off big time! With just a bit of effort and minimal expense, you can educate and invite your partners in ministry to consider gifts from their IRA Required Minimum Distributions (RMDs).

The idea behind RMDs is that the government usually requires a person to “spend down” a retirement fund over the course of his or her life (exception, Roth IRAs). Of course, the government can’t predict when a particular person will die (and I for one am happy about that!), but it can use data to estimate a life expectancy. The amount a person is required to “spend down” by taking...

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Planned Giving: Learn, Connect and Grow


By David Pederson, Director of Development, Catholic Community Foundation for the Diocese of Phoenix


Many times in a smaller organization we think a planned giving program is saved only for large universities and hospital systems with what seems like limitless financial and staffing resources. One can only dream of having the capacity to take on such a thing. However, there is a place for a program that highlights ultimate gifts in any size organization.

To get started, remember what you already know. As a development professional, you already know about forming meaningful relationships and how to talk to people about supporting your mission. The next part is to get familiar with some of the nuts and bolts as well as expanding your reach through a network of professional advisors.

Time to Learn

First, look online at organizations with successful programs and read about the different types of gift options available. Many times, you can start your search at your local Catholic...

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