Phil Grant, Pastoral Administrator and Safe Environment Coordinator
November 8, 2026
IRAs, RMDs, QCDs, Oh My!
We ask for a lot of financial support around here. For example:
• Regular operational support, whether through envelopes, ACHs, or cash in the basket;
• Our November Giving Thanks fundraiser;
• Monthly contributions for Community of Saints Regional Catholic School and Neighborhood
House;
• Support for Archdiocesan initiatives such as the Campaign for Human Development and the Catholic Services Appeal
Meanwhile, we’re in month five (out of six months) for the Lord, Renew Your Church (LRYC) capital campaign. Recall that LRYC is raising money for our St. Matt’s capital needs as well as certain Archdiocesan projects. Many thanks to everyone’s who already pledged!
Regarding your contributions, I ask you to keep in mind: do what you can. It’s OK to draw boundaries regarding what you save, what you spend, and what you share.
I’m regularly asked questions about certain abbreviations. I’m happy to share what I’ve learned. For details, please consult a qualified financial planner and/or books and articles on financial planning.
• IRA = Individual Retirement Account. With a traditional IRA, you defer taxes until you withdraw your funds. With a Roth IRA, you contribute your funds after you’ve paid taxes on that year’s income.
• RMD = Required Minimum Distribution. In the year you turn 73, you receive a letter from the feds saying you must withdraw a certain amount from your traditional IRA each year—or suffer a penalty.
• QCD = Qualified Charitable Distribution. (This is the one parish business administrators really like.) Starting at age 70 ½, you may make tax-free donations from your (traditional*) IRA to charitable organizations. As an example, I’m making my Lord, Renew Your Church (LRYC) contributions as a QCD/RMD from my IRA.
*Roth IRAs do not require minimum distributions.
Thank you for your support. Have a great week!
Phil Grant, Administrator
Safe Environment Coordinator
pgrant@st-matts.org
651-224-9793
