Make a difference today and save on taxes.It’s possible when you support Cape Ann Animal Aid through your IRA.
A Special Opportunity for Those 70½ Years Old and Older
You can give any amount (up to a maximum of $100,000) per year from your IRA directly to a qualified charity such as CAAA without having to pay income taxes on the money. Gifts of any value $100,000 or less are eligible for this benefit and you can feel good knowing that you are making a difference at CAAA.
This popular gift option is commonly called the IRA charitable rollover, but you may also see it referred to as a qualified charitable distribution, or QCD for short.
With this approach, you can continue to take regular lifetime withdrawals and you maintain flexibility to change beneficiaries if your family's needs change during your lifetime. This is simple to set up and does not require a will. Contact the financial institution that manages your retirement plan to learn about how to designate a charity as the beneficiary.
Designating Cape Ann Animal Aid on your retirement plan costs nothing now and allows you to include CAAA in your future giving plan.
You can give any amount (up to a maximum of $100,000) per year from your IRA directly to a qualified charity such as CAAA without having to pay income taxes on the money. Gifts of any value $100,000 or less are eligible for this benefit and you can feel good knowing that you are making a difference at CAAA.
This popular gift option is commonly called the IRA charitable rollover, but you may also see it referred to as a qualified charitable distribution, or QCD for short.
With this approach, you can continue to take regular lifetime withdrawals and you maintain flexibility to change beneficiaries if your family's needs change during your lifetime. This is simple to set up and does not require a will. Contact the financial institution that manages your retirement plan to learn about how to designate a charity as the beneficiary.
Designating Cape Ann Animal Aid on your retirement plan costs nothing now and allows you to include CAAA in your future giving plan.
Why Consider This Gift?
- Your gift will be put to use today, allowing you to see the difference your donation is making.
- Beginning in the year you turn 72, you can use your gift to satisfy all or part of your required minimum distribution (RMD).
- 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.
- Since the gift doesn’t count as income, it can reduce your annual income level. This may help lower your Medicare premiums and decrease the amount of Social Security that is subject to tax.
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 Cape Ann Animal Aid 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.
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 Cape Ann Animal Aid 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.
Please contact Jennifer Dobson, director of development and communication, at development@capeannanimalaid.org or 978-283-6055 ext. 104 with any questions.
Cape Ann Animal Aid is a registered 501(c)3 nonprofit organization and all contributions are tax-deductible as allowed by law (EIN 04-2374914). We do not share information about our donors with any other group, company, or organization.
