Individual Retirement Account

You can donate through your Individual Retirement Account (IRA). If you are 70-1/2 or older, the IRS requires you to withdraw a certain amount from your IRA, called a Required Minimum Distribution (RMD). You must pay taxes on this withdrawal, and for many IRA account holders, the taxes can be significant. However, by choosing an IRA charitable rollover you can transfer the money to a charity such as ARM and reduce or eliminate the taxes on your RMD dollar for dollar. Each spouse can contribute up to $100,000 annually, and ARM will use 100 percent of the donation to provide Bibles and Bible correspondence courses for inmates.