Giving Through Your IRA
Did you know that an easy way you can support the foundation (and possibly gain a tax advantage for yourself) is by donating directly from your IRA? Making Qualified Charitable Distributions from your IRA can reduce your tax liability. If you have a required minimum distribution (RMD) and direct your IRA to send a donation to a qualified 501c(3) charitable organization (such as The Aldo Leopold Foundation), it will effectively lower your adjusted gross income and reduce the amount of your distribution that is taxable!
“We’ve used our IRA to donate to the foundation many times. It really is simple, and it benefits both them and us.” –Dennis and Betty Keeney, Madison, WI.
Here a few guidelines from the IRS:
- You must have the funds sent directly from the IRA to the charity;
- You can donate all or part of your Required Minimum Distribution (up to $100,000);
- You must be at least 70 ½ years old
Giving Through Stocks
“Each year, we are delighted to donate to the Aldo Leopold Foundation to foster Aldo Leopold’s visionary land ethic.
To do this, we donate stock and we urge others to do the same.
Giving stock provides tax advantages as you receive a deduction for the full value of the stock you donate and pay no tax on any increase in its value.
This year, the foundation has inaugurated a new system that encourages donors to notify them in advance of a stock gift. By sharing the form with the Aldo Leopold Foundation before any transaction occurs, you can help ensure that the gift is tied to you and properly acknowledged.
This is a best practice and a perfect example of the thoughtful stewardship that the Leopold Foundation brings to donors – and to the land.
We encourage you to take advantage of this new system.“
Dede and Tim Petri
We are providing this information for your convenience but encourage you to contact your accountant or financial advisor with any specific tax questions.