GIVE FROM YOUR IRA

The Charitable IRA Rollover provides taxpayers with a mechanism for transferring their annual Required Minimum Distributions directly to charitable organizations, in order to exclude the distributions from their taxable income while simultaneously supporting the charities of their choice. This rollover is an attractive option for taxpayers who either don’t want or don’t need the extra taxable income from their IRA’s required minimum distribution.

If you are 70½ years old or older, you can take advantage of this tax-smart opportunity to give to the Netherland-America Foundation You can give up to $100,000 from your IRA directly to the NAF without having to pay income taxes on the money. A Charitable IRA Rollover gift will not only help the NAF continue its impactful programming, but it also has additional benefits:

• You pay no income taxes on the gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your deductions.
• If you have not yet taken your required minimum distribution for the year, your IRA charitable rollover gift can satisfy all or part of that requirement.
• Since the gift doesn’t count as income, it may reduce your annual income level. This may help lower your Medicare premiums and decrease the amount of Social Security that is subject to tax.

In order to qualify for these benefits, your gift needs to be made directly from your IRA account, either by writing a check from your IRA account or by having your IRA administrator issue a payment to the Netherland-America Foundation. You can download a sample letter here.

FOR THOSE 59½ YEARS OLD OR OLDER

If you’re at least 59½ years old, you can take a distribution and then make a gift from your IRA without penalty. If you itemize your deductions, you can take a charitable deduction for the amount of your gift.

AT ANY AGE

No matter your age, you can designate the NAF as the beneficiary of all or a percentage of your IRA and it will pass to us tax-free after your lifetime. It’s simple, just requiring that you contact your IRA administrator for a change-of-beneficiary form or download a form from your provider’s website.

Your wise planning for your financial future can help secure the future of exchange programs for our younger generation.

It’s critical to let us know of your gift because many popular retirement plan administrators assume no obligation to notify a charity of your designation. The administrator also will not monitor whether your gift designations are followed. We would love to talk to you about your intentions to ensure that they are followed. We would also like to thank you for your generosity.

We recommend that you consult with your attorney or tax advisor for the various tax benefits and restrictions that may apply to your specific situation. We are available to you and your advisors to answer questions or help arrange a planned gift to the NAF.