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Are IRA distributions eligible for Presidents Club recognition?

April 26, 2017club distributions eligible IRA president recognition

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Are IRA distributions eligible for Presidents Club recognition?

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Top We are excited that, for a limited time, eligible donors 70 or older are able to make gifts from an individual retirement account (IRA) without having to report the distribution as taxable income. However, the federal legislation making this type of gift possible does not allow donors to receive quid pro quo benefits. If the donor receives any benefits, such as football tickets, no portion of the IRA distribution may be excluded from income. As a result, IRA distributions are not eligible for Presidents Club recognition, cannot be used to renew annual recognition, and cannot be used to pay on pledges for fulfillment of previous lifetime recognition commitments.