Robin Flournoy chose to help further the California Rangeland Trust’s mission by listing the Rangeland Trust as a beneficiary of her retirement account. Many other donors have also made charitable gifts through their IRAs as a way to reduce tax liability on their heirs. Here are some ways that you can use your own IRA to help a cause you care about, while also reducing the tax bill for you and your next generation.
If you’re 70½ or older, you can make a tax-free gift to the Rangeland Trust. Benefits include:
See the difference you’re making today.
Pay no income taxes on the gift. The transfer doesn’t generate taxable income or a tax deduction.
If you are required to take minimum distributions, your gift can satisfy all or part of your obligation.
You can name the Rangeland Trust as a beneficiary of your retirement account. This is a great option for extending support from your IRA beyond your lifetime. It costs you nothing today.
Here’s how:
Contact your IRA administrator for a change-of-beneficiary form, or simply download a form from your provider’s website.
Name us and the gift percentage on the form. (Federal ID # is 31-1631453)
Let us know about your plans so we can thank you and welcome you into the Visionaries’ Circle!
If you are 70½ or older, you can use your IRA to create a charitable gift annuity. Get fixed, reliable income for life by making a one-time election of up to $53,000 (without being taxed on the distribution, which also counts toward your minimum distribution).
Whether you make your impact through the Rangeland Trust today or after your lifetime, your gift matters. Please contact Shannon Foucault at (916) 444-2096 or sfoucault@rangelandtrust.org to discuss your goals
An IRA is an appealing way to save for retirement. But eventually, the tax bill comes due—when you take your annual distributions and again when you leave your assets to heirs. If you want to avoid the tax bite and make an impact on our mission, consider a gift to rangeland conservation.
The information in this article was accurate at the time of printing. This is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor.
Originally published in the Rangeland Trust Spring 2024 Newsletter.
California Rangeland Trust is a nonprofit, tax-exempt charitable organization (tax identification number 31-1631453) under Section 501(c)(3) of the Internal Revenue Code. Donations are tax-deductible as allowed by law.
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