Longtime North Beach PAWS volunteer, board of directors member, and former cat shelter manager Pam Moon and her husband Tim have pledged to match up to $50,000 in donations from now to October 31, 2024, earmarked for the planned new state-of-the-art dog shelter.
“North Beach PAWS is very important to both of us, me in particular. The dog shelter is really in need of something different,” Pam Moon said. “They do the best they can, but they are limited in space and being able to house the animals. We adopted our dog Kaya last year. She was filthy. We fostered her for a couple of weeks, and we took her to the groomer. They need space to clean the dogs and keep them clean.”
Tim Moon worked in the computer industry for Weyerhaeuser, EDS, and Hewlett-Packard, while Pam retired from Weyerhaeuser after more than 20 years. The couple will celebrate their 56th wedding anniversary in May.
“The $50,000 is coming from a required minimum distribution from an IRA,” Tim Moon said. “A new dog shelter would allow them to take care of more dogs.”
By making the donation directly from their retirement account to a 501c3 non-profit through a qualified charitable distribution (QCD), the Moons matching $50,000 contribution is tax-free.
According to IRS.gov, “(IRA) owners age 70½ or over … can transfer up to $100,000 to charity tax-free each year. These transfers, known as qualified charitable distributions or QCDs, offer eligible older Americans a great way to easily give to charity before the end of the year. And, for those who are at least 73 years old, QCDs count toward the IRA owner's required minimum distribution (RMD) for the year.”
While an RMD counts as taxable income, a QCD does not. However, the QCD must be made during the current tax year. If you choose to donate to North Beach PAWS with a QCD, please do so by October 31, 2024. Donations to North Beach PAWS are usually tax deductible (some limitations apply).
North Beach PAWS would like to thank the Moons for their generosity and continued support.