Making a Gift to Ashby Village through your IRA – a “Tax-Wise” Way to Give
By Jan Corazza, Board Member and Development Committee Chair
Did you know that you can support Ashby Village through your IRA, if you are over 70 ½ at the time of distribution, and save on income taxes, as well – even if you don’t itemize?
Because the direct distribution – called a Qualified Charitable Distribution (QCD) -- from your IRA will not be included in your income it won’t be taxed. And the IRA QCD will count towards your annual required minimum distribution.
So, by making a gift to Ashby Village directly from your IRA, it may help you lower income taxes on your IRA withdrawals while providing a charitable gift.
BENEFITS INCLUDE
- Avoid taxes on charitable transfers of up to $100,000 from your IRA
- Help satisfy your required minimum distribution (RMD) for the year
- Reduce your taxable income, even if you do not itemize deductions
- Help further the work of Ashby Village
HOW IT WORKS
- Contact your IRA plan administrator to make a gift from your IRA directly to Ashby Village
- Contact Ashby Village to let us know of your plans
- Your IRA funds will be directly transferred to Ashby Village for the Founders Fund, or other purpose you designate
- If you have made a pledge to Ashby Village, it can be paid via your IRA donation
- Please note that IRA charitable rollover gifts do not qualify for a charitable deduction
For more information, contact Andy Gaines, Executive Director, at andy@ashbyvillage.org or call 510-204-9200
As always, Ashby Village does not provide tax or legal advice. Please consult your tax and legal advisors to ensure that you follow all applicable rules and choose the most favorable option for you.