IRA Gifts
Thank you for considering making a charitable gift from your IRA (Individual Retirement account). Making a direct charitable gift from your IRA is a wonderful way to support young people in Indiana 4‑H programs, and it is a tax-smart idea, too.
One great benefit of making a direct charitable gift from your IRA account is the amount you donate from your IRA can help you satisfy (or partially satisfy) your Required Minimum Distribution (RMD). Once you reach the age of 72 the law requires you to take an RMD or face a stiff penalty.
But you do not have to wait until you’re 72 to make a charitable gift from your IRA. As long as you are 70 1/2 you can make this type of charitable gift.
Here are the details:
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- Under federal law, anyone age 70 ½ or older can make a direct gift from their IRA to a qualified
501(c)(3) nonprofit organization like Indiana 4‑H Foundation. - The benefit to you is, you do not have to pay tax on this income. The income goes directly to the
charity. For some people, this is very beneficial because that extra income may put them in a higher tax
bracket or have other tax implications. - Your charitable gift will also be counted towards your Required Minimum Distribution (RMD). 401k,
403b and other retirement plans not eligible.)
- Under federal law, anyone age 70 ½ or older can make a direct gift from their IRA to a qualified
Here is how you make a gift from your IRA:
1. Your gift needs to go directly from your IRA account to Indiana 4‑H Foundation.
2. Write a check from your account or have your IRA administrator issue a payment to Indiana 4‑H
Foundation.3. Please include the Indiana 4‑H Foundation Tax Identification Number: 35-1097611
4. Mail your check to:
Indiana 4‑H Foundation
PO Box 3125
Indianapolis, IN 46206
Did you know…
You can name Indiana 4‑H Foundation a beneficiary of your IRA or other retirement plan? Typically, if you leave an IRA to anyone besides a spouse, the remainder of your IRA can be heavily taxed. However, if you leave your IRA to a qualified 501(c)(3) nonprofit organization, like Indiana 4‑H Foundation, every single, hard-earned dollar will be put to good use, as the nonprofit does not pay taxes on your IRA gift.
The Indiana 4‑H Foundation is a 501(c)3 nonprofit organization. All donations to the Indiana 4‑H Foundation are tax deductible as allowed by law. For tax purposes, our EIN is 35-1097611. Our mailing address is: Indiana 4‑H Foundation, P.O. Box 3125, Indianapolis, IN 46206
Learn More
To learn more about gifts from an IRA or other retirement account, please contact:
Shelly Bingle, Executive Director, phone: (765) 224-8244, email: shelly@in4h.org
Have you already named Indiana 4‑H Foundation as a beneficiary of a retirement plan, life insurance or
any other account, or if 4‑H is named in your will or trust, please contact Shelly Bingle to ensure your gift
will be used as you wish.
Indiana 4‑H Foundation Tax Identification Number: 35-1097611
Nancy Towner (below) helps a Vermillion County 4‑H’er with a basketry project in her workshop. A lifelong 4‑H’er herself, Nancy is weaving direct gifts from her IRA into her charitable plans benefitting Indiana 4‑H Foundation.
“When you’re over 72, you have to take a required minimum distribution (RMD) from your IRA, and that lands in your bank account and on your tax return, and Uncle Sam wants a piece of it. I’d rather have it go straight to the Foundation, and I don’t pay tax on it. It’s a win-win.”
—Nancy Towner, Indiana 4‑H Foundation supporter and professional tax advisor for 30 years.