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Gifts Through Your IRA

Important Reminders

Important Reminders:
  • Whatever your charitable intentions, do not incur additional tax penalties by making a withdrawal from your retirement plan before you are vested and the plan is ready to make distributions to you.
  • Be sure to consult carefully with your plan administrator and your financial advisors before making any lifetime gift from your retirement plan.
     
Gift Examples: 

Example 1 illustrates an outright gift from an IRA by a donor over age 70½:
You are 75 years old and your adjusted gross income will total $200,000 this year. Earlier in the year you contributed $100,000 to The Nature Conservancy, so you have reached the limit (50% of adjusted gross income) on charitable gifts you can deduct this year.

You want to provide additional support for a The Nature Conservancy program, so you direct a $100,000 payment from your IRA to us.

Summary of the costs/benefits:

Donor Individual, age 75
Withdrawal from IRA $100,000
Contribution $100,000
Income tax on withdrawal $0
Charitable deduction for withdrawal $0

 

Example 2 illustrates the costs and benefits of a withdrawal from an IRA by a donor younger than 70½:
You are 65 years old. You withdraw $100,000 from an IRA and contribute it to The Nature Conservancy.

Summary of the costs/benefits:

Donor Individual, age 65
Withdrawal from IRA $100,000
Contribution $100,000
Charitable deduction $100,000
Deduction tax savings @ 35% $35,000
Tax on IRA withdrawal @ 35% $35,000
Net tax cost of gift $0
 Is this gift for you?

Make a lifetime gift from a retirement account, after careful review, if...

  • You are over age 70½.
  • You want to make a significant outright gift to support one of our programs now.
  • Your other charitable contributions for the year have reached your percentage-deduction limitation.

Or...

  • You are under age 70½, and your tax liability for the year will be low.
  • Your other disposable assets are limited.

In both cases...

  • You have adequate (or surplus) retirement savings.
     
Return to IRA Gift Overview.

 

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