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Retirement Plan Gifts

Gifting through an IRA 

If you are 70 ½ or older this year (2017 calendar year), you can give up to $100,000.00 a year directly from your IRA. This will not be included in your gross income for tax purposes, and it counts towards your required minimum distribution (RMD) for the year.

How it works

  • By sending the completed Transfer Letter Template to your IRA plan administrator, you can direct distributions in the amount you choose from your IRA to Nativity Prep Academy
  • Must have the check made out directly from your IRA to Nativity Prep Academy – the check/gift cannot come to you in any form

Benefits

  • The distribution is not subject to income tax
  • Reduce your taxable income, even if you do not itemize deductions
  • Allows you to give even if you have met the 50% deduction limit on charitable gifts

 

IRA Beneficiary: Making a Difference with a Little Planning

If you are younger than 70 ½, you can name Nativity Prep Academy as a beneficiary on your retirement policy. Nativity Prep would receive the entire amount you designate with no federal income tax implications.  (Leaving and IRA beneficiary designation to an individual may trigger an income tax event for your loved ones.)

Your financial advisor can help you determine whether income from a gift plan or withdrawals from your retirement account would best meet your goals.  *PLEASE NOTE: IRA charitable rollover gifts do not qualify for a charitable deduction. *

How It Works

  • You name Nativity Prep Academy as the beneficiary of a qualifying retirement plan through a beneficiary designation form, ensuring assets will not be included in your taxable estate.
  • Beneficiary designations can be changed at any time without the formality of executing a will.
  • After your lifetime, the residue of your plan passes to Nativity Prep Academy tax-free and to any other named heirs.

 

Nativity Prep Academy is a nonprofit, tax-exempt charitable organization (tax identification number 33-08869247) under Section 501(c)(3) of the Internal Revenue Code. Donations are tax-deductable as allowed by law.

 

Questions?  Please contact Lisa Welch, Director of Philanthropy at lwelch@nativityprep.org or at (619) 544-9455 x227.