MNA’s Guide to Gifts for Nature – Part III

IRA Charitable Rollover

mna logo with red bow

You can give to nature and take advantage of a special tax treat for the year-end giving season with the IRA Charitable Rollover. But it must be done soon to count for 2017.
 
Here’s how it works:
  • People age 70 1/2 or older can make IRA transfer gifts tax-free to the Michigan Nature Association, a qualified charity;
  • Gifts of up to $100,000 qualify when IRA assets are transferred directly to the Charity;
  • Directly transferred gifts count towards the required minimum distributions you must take annually from your traditional IRAs, but aren’t included in your adjusted gross income and therefore are not counted as taxable income;
  • For married couples, each spouse can transfer up to $100,000 from their IRA.
A recent article in U.S. News & World Report, “How to Donate Your Required Minimum Distribution to Charity,” provides an excellent overview. But time for a qualifying gift for the 2017 tax year is running out. Transfers must be complete by December 31, 2017 for this tax year. To make a qualifying gift to MNA for the 2017 tax year we encourage you to contact your IRA administrator while there is still time.
 
Thanks for considering MNA in your year-end giving.
 
Happy Holidays!
 
Garret Johnson
Garret Johnson
Executive Director 
 
P.S. Don’t forget, transfers must be made by December 31, 2017 to qualify for this tax year.
 
Watch for more giving ideas throughout the month!

Donate today at michigannature.org!

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2016 Year-End Tax Treat

IRA Rollover Deadline is December 31

The IRA Charitable Rollover was made permanent last year but must be done soon to count for 2016. Take advantage of this special tax treat for the year-end giving season!

Here’s how it works:

  • People age 70 1/2 or older can make IRA transfer gifts tax-free if they are to a qualified charity like the Michigan Nature Association;
  • Gifts of up to $100,000 qualify when IRA assets are transferred directly to the charity;
  • Gifts count towards the required minimum distributions you must take annually from your traditional IRAs, but aren’t included in your adjusted gross income;
  • For married couples, each spouse can transfer up to $100,000 from their IRA.

But time for a qualifying gift for the 2016 tax year is running out. Transfers must be completed by Dec. 31, 2016 for this tax year. To make a qualifying gift to MNA for the 2016 tax year we encourage you to contact your IRA administrator while there is still time.

The IRA Charitable Rollover is permanent, so you can begin planning your 2017 tax-free gift to MNA!

Happy Holidays!

Garret Johnson

Garret Johnson
Executive Director

P.S. You can double your impact with a tax-deductible gift to protect Michigan’s rare, threatened and endangered species of $100 or more, up to $10,000, through a generous dollar-for-dollar matching challenge grant!

Donate today by visiting michigannature.org.