December 12, 2013
For The Heritage Foundation, leadership means that when facing problems like health care, economic growth, or immigration, we first consult our nation’s highest principles — the principles enshrined in the Declaration of Independence and the Constitution.
Now if you’re 70 ½ or older, there’s a unique way you can get involved in helping Heritage provide the principled leadership America needs. You can donate up to $100,000 from your IRA to Heritage tax free!
But you’ll have to act fast. This opportunity expires on December 31. Please see below for more information about this limited-time opportunity.
If you have arranged for a 2013 gift from your IRA, or if you have any questions, please contact my colleague Lori McNicoll at (800) 409-2003.
Donate up to $100,000 tax free before December 31–and count it as an IRA withdrawal
Did you know that IRA assets left to non-spousal heirs will be subject to both estate and income taxes? This means your IRA assets could be faced with taxes in excess of 70 percent! All the more reason to consider using your IRA to make a meaningful gift to The Heritage Foundation now by taking advantage of this opportunity, or by designating Heritage a beneficiary of your account upon death.
Have you often wished you could use IRA funds to make a gift to your favorite charity without it being treated as a taxable withdrawal? Now you can. But time is short—you have until December 31 to make your IRA contribution for the 2013 tax year.
Time is running out for you to make a special gift in support of The Heritage Foundation. You can donate up to $100,000 from your IRA tax free for the 2013 tax year! This unique opportunity for individuals over the age of 70 ½ expires December 31.
What you need to know
- The law expires on December 31. You may make a maximum total gift from your IRA of $100,000.
- If you are married with separate IRAs, you and your spouse each can make gifts up to $100,000.
- You must be 70 ½ years of age or older. This age group may be faced with mandatory withdrawals, and a charitable gift counts as a withdrawal without the consequences of increasing your taxable income and/or income tax bracket.
- Your gift must be made directly from your IRA to Heritage in order to qualify. Contact your IRA custodian about how to make a transfer. Please direct your gift to the attention of Lori McNicoll at the address below.
- While you would not receive an income tax deduction for this gift, the distribution would be excluded from your taxable income. A transfer to The Heritage Foundation would also fulfill some or all of any required minimum distribution without increasing your taxable income.
Please consult with your IRA custodian about making a gift. Checks from your IRA should be made out to The Heritage Foundation and mailed by December 31 to:
The Heritage Foundation
Attn: Lori McNicoll
214 Massachusetts Avenue, NE
Washington, DC 20002
If you have any questions about this exciting opportunity to make gifts from your IRA, please call Lori McNicoll toll free at (800) 409-2003.