Tek4Kids

Month: October 2019

  • Have You Heard About IRA Qualified Charitable Distributions?

    Have You Heard About IRA Qualified Charitable Distributions?

    The Qualified Charitable Distribution (QCD) was introduced by Congress (on a temporary basis) in 2006 for IRA holders. In a QCD, an individual over age 70½ can fund gifts to charities such as Tek4Kids from his or her IRA. Specifically, an individual can make one or more “qualified charitable distributions” from his or her IRA, up to an aggregate of $100,000 during the year, directly to certain charities of his or her choice. To qualify, the distribution was required to be paid directly from the IRA to the qualified charity. The QCD became permanent in 2015.

    Distributions that qualify as a QCD receive very favorable tax treatment: they are not included in the individual’s gross income, but nonetheless count toward the required minimum distribution that the IRA owner must take each year after reaching age 70½ (or a beneficiary must take after the death of the IRA owner). The distribution to charity does not reduce the amount the donor can otherwise give to charity on a fully deductible basis. In other words, the amount donated through the QCD will not “count” as charitable donation when calculating the donor’s charitable gifts for the year. Thus, while the donor does not have income from the distribution, the donor does not receive a charitable deduction either.

    If you are interested in donating to Tek4Kids through a Qualified Charitable Distribution, please consult your financial advisor or contact us for further information. To view a .pdf file with more details, click here: 2019-10-15 IRA Qualified Charitable Distribution

  • St. Francis School of Technology Graduates Its Second Class!

    St. Francis School of Technology Graduates Its Second Class!

    St. Francis School of Technology (SFST) is a technical school located in Jeremie, Haiti operating on a three year cycle. Students have the opportunity graduate with a diploma once they complete the cycle. During their time at SFST, students may also have internship opportunities. SFST is fortunate to have many competent teachers who are recognized nationally and internationally, as well as having the latest materials and technology for students’ learning.

    On July 13, 2019, SFST celebrated its second graduating class, which was named after William Philippe. The class chose this name because Philippe directed SFST for three years and is a very qualified teacher. The students are truly grateful for Philippe’s dedication and expertise at SFST. As its goal, the 2016-2019 class chose the following: “Work is the key to success.” Graduates do not believe in luck and chance, but rather in the work and efforts they have made during their studies at SFST.

    This year’s graduation celebrant was Mgr. Marc Arthur Emille, who greatly demonstrates his love for SFST and is always delighted to celebrate our school graduations. His meditation blessed the class and urged them to continue in their studies and in the professional careers that await them.

    Gary and Cathy Boice are the founders of SFST. The graduates appreciate the Boice’s dedication and love for them, as they leave their home country to help students receive their education. In recognition of Gary and Cathy, the class created a song for them: Thank you, thank you, thank you TEK4KIDS; thank you, Mr. Gary Boice and his family.

    The 19 graduating students wore blue and gold and were accompanied by a choir for the ceremony. The top student of this graduating class was Laguerre Guelson, who averaged 87.91. Jean Widner was the second laureate with a general average of 82.24. Francky Civil was third with a general average of 81.97. About 275 people attended the graduation ceremony, including parents, family members, and friends of the graduates and the staff of SFST.

    “Work is the key to success.”

    — by Elisabeth Dauphin, Accountant and SFST Graduation Coordinator

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