Local businessman Charlie Utterback recently donated $36,000 to North Beach PAWS, which has been applied directly to the principal on the organization’s mortgage balance. He gave PAWS an additional check for $24,000 earlier this year, which was directed in the same way.
Utterback — a retired CPA — would like others to know that IRA holders who are 70½ (or older) and required to draw a portion of their IRA funds each year, may direct a portion or all of their required minimum distribution, as he did, directly to any qualified 501(c)3 charity in good standing with the Secretary of State.
According to him, the money must be donated by Dec 31 and may not exceed $100,000 in any given year. The amount donated was not released to the donor so is not considered as income, but does reduce the required minimum distribution for the year.
Utterback said he selected North Beach PAWS, because it is a 100% volunteer organization, which has successfully operated a non-kill shelter at Hogan’s Corner for the past 17 years, and he wanted to say thank you for the hundreds of volunteer hours required to run this animal shelter each month.
Anyone else who would also like to make a portion of their RMD, a donation to North Beach PAWS can have it sent to P.O. Box 962, Ocean Shores WA 98569, prior to Dec 31.