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Crawford County IRA Owners: Fuel The Fine Arts With Your Required Minimum Distributions

IRA Owners Can Fuel The Fine Arts With Required Minimum Distributions | Bucyrus Little Theatre

If you’re a traditional IRA holder in Crawford County and have reached age 73, your required minimum distributions (RMDs) are no longer optional; they’re mandatory. But what if you could satisfy those rules and fuel the performing arts community here in Bucyrus? Through qualified charitable distributions (QCDs), you can send funds directly from your IRA to Bucyrus Little Theatre (or another favorite local nonprofit) tax-free. It’s a smart, heartfelt way to meet IRS obligations while keeping live theatre thriving right here at home.


Why Choose A QCD For Bucyrus Little Theatre? The Benefits Add Up

Making a qualified charitable distribution to support BLT delivers advantages for you, your taxes, and our community stage:

  • Tax-free Transfer: The gift counts toward your RMD but never hits your taxable income, which is ideal if you don’t itemize or face deduction limits.

  • Lower Medicare Premiums: Reduced adjusted gross income can keep your IRMAA surcharges in check.

  • Double The Impact For Couples: Each spouse (70½+) can give up to $108,000 in 2025, which is potentially $216,000 combined.

  • Legacy On The Marquee: Your gift funds costumes, sets, youth workshops, and scholarships, ensuring generations enjoy the magic of local theatre.

  • One-Time Bonus Option: Use a split-interest QCD (up to $54,000 lifetime) to create an income stream for yourself and a future gift to BLT.


Every dollar stays in Crawford County, lighting up the stage instead of lining Uncle Sam’s pockets.


How To Make Your QCD To Bucyrus Little Theatre: A Simple Step-by-Step

Ready to redirect your required minimum distribution to the footlights? First step is to contact your CPA.

Together, you can follow this straightforward process:

  1. Confirm eligibility

    • You’re 70½ or older

    • Funds come from a traditional IRA (not 401(k) or other plans)

  2. Contact your IRA custodian. Request a direct transfer to: Bucyrus Little Theatre 130 Songer Ave, Bucyrus, OH 44820. Contact Bucyrus Little Theatre to request our Tax ID.

  3. Specify the amount: Up to $108,000 per person in 2025; note it’s a QCD for RMD purposes.

  4. Notify BLT by email at bucyruslittletheater@gmail.com so we can thank you properly and issue an acknowledgment for your records.

  5. Relax Your custodian reports the distribution, but it’s excluded from your 1099-R taxable box. No extra forms needed.


Pro tip: Act before Dec. 31 to count toward this year’s RMD.


Imagine Your Real Crawford County Impact

Consider the following scenario. Jane, a 76-year-old Bucyrus resident and member, faced a $15,000 RMD last year. Itemizing wouldn’t help because she takes the standard deduction, and the extra income would push her into a higher tax bracket.


Her solution? A $15,000 QCD straight to Bucyrus Little Theatre.

  • Tax savings: ~$3,600 avoided in federal taxes

  • Community win: Donations would go on to fund critical projects, performances, operations, the ongoing growth and sustainability of the organization, and the prospect of introducing new local youth to the performing arts.

  • Personal perk: If requested, Jane might receive recognition for her donation as a sustaining benefactor or access to exclusive perks for her generosity.


Spotlight your RMD on Bucyrus Little Theatre. Contact your CPA today to learn about this valuable opportunity and how you can make a difference when taking your RMD.

 
 
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