Partner News

Thursday, May 3rd, 2007

Save taxes with an IRA Charitable Rollover

Are you over age 70 and 1/2 and need to take withdrawals from your IRA?

Are you concerned about your increasing income tax?

Contribute directly from your IRA and save tax with the IRA Charitable Rollover.

When you give through an IRA Charitable Rollover, the amount given to charity is not included in taxable income. 

Donors who give any amount can benefit:

  • Tax on Social Security benefits is minimized by keeping IRA distributions out of taxable income;
  • Donors who are no longer able to itemize deductions enjoy a reduction in taxable income;
  • Donors who give large gifts can keep their tax return simple by keeping their taxable income lower
  • Donors who want to give above the 50% deduction level can do so without a carryforward limitation.

How to Do It:
Contact your IRA custodian and tell them you want to make a “qualified charitable distribution” to your favorite charity.   The amount transferred will not need to be reported as income, and you will not have to itemize to take the deduction.

You’ll be served well and the Kingdom will benefit through simplicity and convenience of the IRA Charitable Rollover.

Village Missions is a 501c3 qualified exempt public charity;

Our Federal Tax ID # is 43-6043847.

This information is provided with the understanding that Village Missions is not engaged in rendering legal, tax or other professional services. If legal advice or other expert advice is required, the services of a competent professional should be sought.


Thursday, May 3rd, 2007

Planning Team Hard at Work

planning-team.bmpHere’s a photo of a few key members of our planning team.  Right to left are our engineer, Steve Roberge, Village Missionary Dan Michaud, and Village Missionary Lois Grindle.  Retired missionaries Bob and Lois Grindle will be moving into the first house, scheduled to be completed in July.

 


Thursday, May 3rd, 2007

Village Missions is “On the Map”

Village Missions DriveVillage Missions Drive is now on the map in New Gloucester, Maine.


Thursday, May 3rd, 2007

New Gloucester Groundbreaking

Entrance to new developmentOn Thursday, April 26, our excavator, Bruce Traford, moved in heavy equipment and began work on what is to become “Village Missions Drive” in New Gloucester, Maine.  This development is an answer to much prayer, and several years of planning.

The Village Missions Retirement Community  will have eight small 2 bedroom homes.  Retired missionaries will be able to rent a home at an affordable price. 

Village Missionaries serving in the east have long hoped for affordable retirement housing.  These faithful servants have willingly labored in churches that have not been able to provide for their financial well-being.  We praise the Lord for His provision.   

 

 

 


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