For many retirees, an individual retirement account (IRA) is an important income source. These accounts are similar to a 401(k) but do not require an employer sponsor.

These accounts can have a variety of advantages – if you are 70 1/2 you can make charitable donations directly from your IRA, and avoid taxes on transfers up to $100,000 from your IRA to Second Helpings or the charity of your choice. This also satisfies your required minimum distribution for the year.

This month we spoke to two longtime Second Helpings supporters about why this method of giving works for them.

Joan Haaf has volunteered at Second Helpings for 11 years, serving more than 2,000 hours over more than 500 shifts. She has worked in a variety of roles in the kitchen, and now volunteers at the front desk every Wednesday afternoon.

As she tells all her friends, “volunteering at Second Helpings is fun! You’re not just spending time here, it’s really worthwhile.”

It was volunteering that inspired her to become a donor as well. “Having volunteered in various departments, I know how efficient the organization is and I know that my money is going to an incredible cause.”

Donating through her IRA was also an easy choice for Joan. “When I learned you can make donations from an IRA instead of my checking account, and I don’t have to pay taxes on it, I thought, ‘why not?’”

Budd Glassberg first volunteered at Second Helpings in 2009, starting in the dish room and over time worked in several kitchen roles, and then served as a driver and companion paired with his wife.

“From the very beginning [of my volunteer service], we had been donating too because we believe in what Second Helpings does,” Budd shared.

Budd worked for many years as a CPA, so he’s very familiar with the advantages of giving through different vehicles like IRAs. “If you’re a charitable person to begin with and are also looking for ways to ease your tax burden, then more power to you! IRAs offer a great tax incentive to people who aren’t relying on that fund for their main source of income.”

No matter how you are able to give, Budd believes that “if you’re giving, it gives back to you in other ways. We should all be here to help other people.”

Second Helpings is so grateful for Joan’s and Budd’s continued support of our mission, both as volunteers and donors. You can learn more about giving gifts of retirement assets here. If you have any questions about making a gift through your IRA, please contact Katie Prine, Senior Director of Philanthropy at katie@secondhelpings.org or (317) 602-8739.