Donating Retirement Assets
How Donating Retirement Assets Helps Change Kids' Lives
Maddy Needs Your Help
Maddy lost her mom when she was very young and went to live with family members who hurt and abused her until she was taken into foster care at eight years old. When she came to Idaho Youth Ranch at 16, all the pain and fear of her childhood left Maddy feeling angry and heartbroken. She didn't know how to process all that pain and had never had a caring adult to help her deal with everything that had happened. She was angry, scared, and hopeless.
Your IRA rollover can help kids like Maddy!
Maddy joined an Equine Therapy group at Idaho Youth Ranch for teen girls who had experienced trauma. Maddy was one of eight girls with histories of loss, abuse, trauma, and neglect. Idaho Youth Ranch is a nonprofit organization that helps kids and families overcome childhood trauma. Youth who are struggling like Maddy get access to proven therapies to help them learn to heal from their struggles and move forward in healthy ways.
For Maddy, Equine Therapy taught her healthy ways to deal with her pain. Before, she tried to numb the pain with drugs and alcohol. She learned, instead, to process difficult emotions in healthy ways. She developed hope, made healthy friendships, and learned how to trust.
Donating your IRA to Idaho Youth Ranch will help Maddy continue her journey to healing. Today, she is doing much better and dreams of attending college to be a social worker. You can make that dream come true!
Donating IRAs or Retirement Assets to Charity
If you are 72 or older, you now have reached the milestone where you have to begin taking your annual required minimum distribution, or RMD, from your retirement account. Along with that distribution comes tax on your previously untaxed assets.
But there is a way to satisfy your RMD requirements while avoiding tax and supporting the causes that matter most to you. It is called an IRA charitable rollover gift, and it is easy to make!
Simply tell your IRA account custodian that you want to make a "qualified charitable distribution" to Idaho Youth Ranch. You can give up to $100,000 per year. With the IRA rollover gift, you may satisfy all or part of your RMD without paying tax on the distribution to charity. A portion or all of your required minimum distribution is met, and the money goes to work providing life-changing programs to vulnerable kids and families.
Don't forget matching gift opportunities! Be sure to take advantage of any employer-matching gift opportunities you have available to you. Your gift can grow and make that much more of a difference.
Benefits of donating retirement assets to nonprofits
Avoid potential estate tax on retirement assets.
- Your heirs would avoid income tax on any retirement assets funded on a pre-tax basis.
- Receive potential estate tax savings from an estate tax deduction.
How to donate retirement assets to Idaho Youth Ranch
To leave your retirement assets to Idaho Youth Ranch, you will need to complete a beneficiary designation form provided by your retirement plan custodian. If you designate Idaho Youth Ranch as the beneficiary, we will benefit from the full value of your gift because your IRA assets will not be taxed at your death. Your estate will benefit from an estate tax charitable deduction for the gift.
More donating retirement assets
Did you know that 60%-70% of your retirement assets may be taxed if you leave them to your heirs at your death? Another option is to leave your heirs assets that receive a step up in basis, such as real estate and stock, and give the retirement assets to Idaho Youth Ranch. As a charity, we are not taxed upon receiving an IRA or other retirement plan assets.