2022 October

Fellow Classmates,

Do you have an IRA account with a Required Minimum Distribution (RMD) due by the end of this year? Then you may qualify for a “QCD” … that is … a “Qualified Charitable Distribution.”

As we approach a landmark celebration with next year’s reunion, it is important to remember the legacy of the great Class of 1966. Previous donations have made it possible to offer needed support to grateful Surviving Spouses to maintain a meaningful connection with The Class. Also, on several occasions in the past, Classmates who have suffered severe financial setbacks have been greatly assisted by The Class. You can make a difference by contributing to this fund and a QCD makes it extremely easy.

To qualify for a QCD, funds must be transferred directly from your IRA custodian to the qualified charity. This is accomplished by requesting your IRA custodian to issue a check from your IRA payable to the charity. You can then request that the check be mailed directly to the charity, or the distribution be transferred directly to the charity via an ACH (Automated Clearing House) money transfer.

AS YOU MAY KNOW, WHEN YOU DONATE MONEY AS A QCD DIRECT TO A CHARITY, IT IS TAX-FREE and The Association of the Class of 1966, United States Naval Academy is a qualified charity (501.c.19 Veterans organization) and is eligible to receive charitable distributions. The Class can accept checks by mail or by an ACH money transfer directly from your IRA to The Class of 1966. One Classmate has already stepped up to make a tax-free donation to The Class!

Should you desire more information on how to coordinate a QCD transfer of funds, please contact the Class Treasurer – Chuck Grutzius – by phone at 540-872-0470 or by e-mail at elexsys.cg@att.net. It is Class Policy that the Treasurer keeps all donations strictly confidential unless the Classmate desires otherwise.

For more detailed tax information about QCDs, the following website is a good place to start: https://www.fidelity.com/learning-center/personal-finance/retirement/qcds-the-basics.

Thank you for your consideration of this opportunity to support The Class.