Gifts from IRAs
Are you looking for a way to make a big difference to help further our mission?
If you are 70 1/2 or older, an IRA charitable rollover is a way you can help continue the Science Center’s work. You can make a gift to the Science Center directly from your IRA without having to pay federal income taxes on the money.
The IRA Charitable Transfer allows individuals age 70 1/2 and older to make direct transfers totaling up to $100,000 per year to 501(c)(3) charities, without having to count the transfers as income for federal income tax purposes. No charitable deduction may be taken, but distributions will qualify for all or part of the IRA owners required minimum distributions.
Transfers must come from your IRA directly to charity. If you have retirement assets in a 401k, 403b or other plans, you must first roll those funds into an IRA, and then you can direct the IRA administrator to transfer the funds from the IRA directly to the Science Center.
Every individual who is the owner of a traditional IRA account, such as your spouse, may use the IRA Charitable Transfer for up to $100,000 each year.
Please make sure your plan administrator knows your gift must be sent prior to December 31 to qualify as an IRA Charitable Transfer. Please contact us when you direct the transfer so we can watch for the check from your IRA administrator.
Check with your plan administrator to find out how to best execute an IRA Charitable Transfer as there may be online options. You may also send a letter to your plan provider to initiate the transfer.
It is helpful to include information and instructions to your IRA administrator:
- Your name, phone, address, and email address.
- Ask for a qualified charitable contribution from your Individual Retirement Account Number: [insert account number] as provided by the Tax Increase Prevention Act of 2015 and Sec. 408(d)(8) of the Internal Revenue Code of 1986, as amended.
- Issue a check in the amount of $________ payable to Squam Lakes Natural Science Center at the following address:
Squam Lakes Natural Science Center
PO Box 173
23 Science Center Road
Holderness, NH 03245
TAX ID: 02-0271824
- Ask them to inform the Science Center of your name and address as the donor and any other relevant information.
Share this information with your attorney or financial advisor to determine whether this gift plan is right for you. This information is general and does not consider your specific situation or other factors that may be important in making tax and investment decisions. This information is not meant as tax or legal advice.