IRA Charitable Distribution

A gift that keeps on giving

If you have a traditional IRA, you know that once you are 72 or older you are required to make a minimum distribution from your IRA every year. That triggers taxes.

Yet there's another way. You can make a contribution directly from your traditional IRA to a qualified charity like Northern Waters Land Trust, up to $100,000, without it being considered a taxable distribution.

In eligible tax years, individuals age 70½ or over can exclude up to $100,000 from gross income for donations paid directly to a qualified charity from their IRA. This is known as a Qualified Charitable Donation, and it satisfies any IRA required minimum distributions for the year.

Congress has extended the IRA charitable rollover for 2015 and beyond. This new law does not have an expiration date and is retroactive to January 1, 2015.

If you are age 70½ or over and wish to direct a charitable donation to Northern Waters Land Trust through your IRA, please use the following procedure:

1. Notify your broker that you are making a charitable gift to Northern Waters Land Trust.
2. Instruct your broker to transfer the charitable donation into Northern Waters Land Trust’s account

After you have completed the transfer, please let us know the arrangements that you have made. This is important because your broker may not include your name in the transfer and we may not know who the gift is from. Notifying us enables us to track the transfer and acknowledge your gift promptly.

Thank you...

Questions?

This year-end is a great way to make a difference and increase the pace of conservation. For more information, please contact your financial advisor. Feel free to email us at info@northernwaterslandtrust.org and we will be happy to help you.

NOTE: You will need to provide your name, number of shares, and the name of the stock or the stock code. We need your name so that we can properly thank you. Please consult your financial advisor as well.