GIFTS FROM YOUR RETIREMENT PLAN
MAKE A GIFT FROM YOUR RETIREMENT PLAN
Many investors have accumulated large sums in their qualified retirement accounts like IRA’s, 401(k)’s, and 403(b)’s. Estate taxes and income taxes could possibly leave those who inherit these funds with a diminished inheritance. A donor may be able to reduce or eliminate these taxes by giving these assets to a qualified charity.
YOU MAY MAKE A DIRECT DONATION FROM YOUR RETIREMENT PLAN.
The easiest way to make a donation from a retirement account is to liquidate all or part of the retirement account, pay any tax and donate the funds to 10/40 Connections.
Some companies offer matching gifts when their employees make charitable contributions. See if yours is one of them and make your gift go further!
Another way to make a donation from a retirement account is to designate 10/40 Connections as a beneficiary of all or part of your retirement plan through your administrator. After your passing, the balance in your plan goes to 10/40.
By designating 10/40 Connections as your beneficiary, you can continue to take lifetime withdrawals. You will avoid the double taxation your funds would incur if passed to your heirs, and you can revoke 10/40 Connections as your beneficiary at any time.
YOU MAY ALSO MAKE A CHARITABLE ROLLOVER GIFT FROM CERTAIN RETIREMENT PLANS.
You may donate up to $100,000 directly from your traditional IRA account to 10/40 Connections if you are 70 1/2 or older at the time of the gift. To complete an IRA Charitable Rollover, contact your IRA provider for instructions.
Please contact us so that we can assist you through every step of the process.