If you’re 70½ or older, you may be able to make a tax-free distribution from your IRA to Columbia Land Trust. Your gift can be used to satisfy your required minimum distribution.
How it works: You can donate up to $105,000 from your IRA to Columbia Land Trust without paying any federal income tax. Your gift can be made simply by notifying your IRA plan custodian of your intent to make a Qualified Charitable Donation (QCD) to Columbia Land Trust. The distributions are transferred directly to Columbia Land Trust and are not subject to Federal Income Taxes.
If you’re under the age of 70½, you can use your IRA to support our work by making a withdrawal and donating the proceeds after taxes.
Making your annual donation to Columbia Land Trust via a QCD may be a good strategy if you:
- Are required to take a minimum distribution from an IRA, but don’t need the funds and would face increased tax liabilities if they took the distribution as income.
- Would like to reduce the balance in an IRA to lower future required minimum distributions.
- Would like to make a larger charitable gift than you could if you simply donated cash or other assets. The value of charitable gifts that can be deducted from a tax return usually ranges from 20 to 60 percent of your adjusted gross income. This AGI-based limit does not apply to QCDs, allowing you to make larger gifts.
- Would like to support the Land Trust immediately (thank you!)
Whatever your age, you can support our work by designating Columbia Land Trust as a beneficiary of your retirement plan.
If you would like to learn more about giving to Columbia Land Trust, please contact Jennifer Wilkerson at jwilkerson@ColumbiaLandTrust.org. Please consult your financial planner or tax advisor for specific guidance on your situation.