Donate IRAs for tax benefits

IRA (Individual Retirement Account) donations to Redwood Coast Land Conservancy may help reduce your taxes.

If you’re at least 70 ½ years old, you can help protect coastal land and public access trails and reduce your taxable income.

The law allows you to make tax-free charitable gifts from your IRA. Gifts of up to $100,000 — from either traditional IRAs or Roth IRAs — are excluded from your taxable income and can be used to satisfy your Required Minimum Distribution (RMD) requirement.

The transfer must be made directly from the IRA to Redwood Coast Land Conservancy, or another qualified charity, and must be for an outright gift.  There is no income tax deduction, as the amount is simply not reported as income.

How do you make an IRA charitable donation? Contact your IRA provider to make your gift.  You may need to provide them with RCLC’s Tax ID number: 68-0287719.

Please consider naming Redwood Coast Land Conservancy a beneficiary for part or all of your IRA or other retirement account.

It is a tax-efficient way of helping your local land trust make a difference for our community. Please let us know if you have done so. Feel free to contact us if you have any questions about the process.

Thanks for caring for our natural lands and their wild inhabitants.

Donate stocks or mutual funds

Photo by Helloquence at UnsplashGiving stocks or mutual funds can also provide tax benefits.

When is a good time to consider that strategy?  When you have gains on the stock or fund, selling it can trigger a tax burden. Giving the stock or funds to a charity like Redwood Coast Land Conservancy allows the charity to sell it and not pay taxes on the gain.

Check with your tax advisor to see what the best strategy is for your situation.  RCLC can also be named as beneficiary for your life insurance or annuity, for another way of contributing. 

Redwood Coast Land Conservancy offers the ease of making an online donation or sending a check.  Visit our Donate page for more information.

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