Menu

Smart Giving from you IRA

An easy and impactful tax-saving way to give the gift of nature

A gift to Pickering Creek Audubon Center = a gift to Chesapeake Audubon Society

Make A Gift at Any Age
No matter your age, you can designate the Pickering Creek Audubon Center (Chesapeake Audubon Society) as the beneficiary of all or a percentage of your IRA and it will pass to us tax-free after your lifetime.  Just contact your IRA administrator for a change-of-beneficiary form or download a form from your provider’s website.
For Those 59½ Years Old or Older
If you are at least 59½ years old, you can take a distribution and then make a gift from your IRA without penalty. If you itemize your deductions, you can take a charitable deduction for the amount of your gift.  Make a difference today and save on taxes.
A Special Opportunity for Those 70½ Years Old and Older
You can give any amount (up to a maximum of $111,000) this year from your IRA directly to a qualified charity such as the Chesapeake Audubon Society without having to pay income taxes on the money. Gifts of any value $111,000 or less are eligible for this benefit and you can feel good knowing that you are making a difference at Pickering Creek. This popular gift option is commonly called the IRA charitable rollover, but you may also see it referred to as a qualified charitable distribution, or QCD for short.
Why Consider This Gift?
  • Your gift will be put to use today, allowing you to see the difference your donation is making.
  • If you are required to take minimum distributions, you can use your gift to satisfy all or part of your obligation.
  • You pay no income taxes on the gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your deductions.
  • Since the gift doesn’t count as income, it can reduce your taxable income. This may help lower your Medicare premiums and decrease the amount of Social Security that is subject to tax.
Tip: It is critical to let us know of your gift because many popular retirement plan administrators assume no obligation to notify a charity of your designation. The administrator also will not monitor whether your gift designations are followed. We would love to talk to you about your intentions to ensure that they are followed, and thank you for your generosity.
To Qualify
  • You must be at least 70½ years of age when the gift is transferred.
  • Transfers must be made directly from a Traditional IRA or Roth IRA account (special exclusions may apply to other types of IRA accounts) by your IRA administrator to Chesapeake Audubon Society (DBA Pickering Creek Audubon Center) in the form of a check. Funds that are withdrawn by you and then contributed do NOT qualify. If you have retirement assets in a 401(k) or 403(b),  you must first roll those assets into an IRA, and then make the transfer from the IRA directly to the charity. You cannot do a Qualified Charitable Distribution from a SEP-IRA or SIMPLE IRA.
  • Gifts must be outright. Distributions to donor-advised funds or life-income arrangements such as charitable remainder trusts and charitable gift annuities are not allowed.
Benefits of a Qualified Charitable Distribution
  • Are not included in your gross income for federal income tax purposes on your IRS Form 1040 
  • Meets your Required Minimum Distribution (RMD) for the year from your IRA.
  • Can give above your deductible limit of 50% of adjusted gross income.
Example
Suppose John has $500,000 in an IRA and he also wants to contribute $20,000 to Pickering Creek Audubon Center. He can authorize the administrator of his IRA to transfer $20,000 to Pickering Creek Audubon Center and $5,000 to himself. The $20,000 distributed to Pickering Creek Audubon Center will not be subject to federal tax and will be counted toward his annual RMD.
As you plan your RMDs for this year, if you do not need the money the government is requiring you to take, consider using it for a charitable gift using the IRA Charitable Rollover.

Questions & Answers
Individuals who are age 70½ or older at the time of the contribution (you have to wait until your actual 70½th birthday to make the transfer).
Up to $111,000 per year. Total gifts cannot exceed $111,000 per year, per IRA owner or beneficiary. If you have a spouse (as defined by the IRS) who is 70½ or older, they can also give any amount up to $111,000 from their IRA.
Transfers must come from your IRAs directly to Pickering Creek Audubon Center. If you have retirement assets in a 401(k), 403(b) etc., 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 Pickering Creek Audubon Center in the form of a check. To determine if a rollover to an IRA is available for your plan, speak with your plan administrator.
Gifts must be made directly from your IRA to a public charity (i.e., they cannot be made to a private foundation, a supporting organization, or a donor-advised fund).
No, these are not eligible.
Yes, all IRA Rollover gifts can be used to support this and many other important needs.
Federal — You do not recognize the transfer to Pickering Creek Audubon Center as income, provided it goes directly from the IRA administrator to us. However, you are not entitled to an income tax charitable deduction for your gift.
State — Each state has different laws, so you will need to consult with your own advisors. Some states have a state income tax and will include this transfer as income. Within those states, some will allow for a state income tax charitable deduction and others will not. Other states base their state income tax on the federal income or federal tax paid. Still, other states have no income tax at all.
Yes, absolutely. Beginning in the year you turn 73, you can use your gift to satisfy all or part of your RMD.
Yes, every IRA owner or beneficiary can gift using their IRA Charitable Rollover for up to $111,000 each year.
  • You are at least age 70½, and:
  • You do not need the additional income necessitated by your Required Minimum Distribution, OR
  • Your charitable gifts already equal 50% of your adjusted gross income, so you do not benefit from an income tax charitable deduction for additional gifts, OR
  • You do not itemize deductions, OR
  • You are subject to income phase-outs on your income tax deductions.
  • You want to support Pickering Creek Audubon Center’s work in a meaningful way today!
We offer a sample letter below you can send to your plan provider to initiate a rollover. Make sure that you contact us when you direct the rollover so we can look for the check from your IRA administrator.
We strongly recommend initiating the gift with your account manager by Nov. 1 in order to avoid the busy holiday season. We must receive your gift by Dec. 31 for your donation to qualify this year. If you have check-writing features on your IRA, please be aware that your check must clear your account by Dec. 31 to count toward your required minimum distribution for the calendar year.  
No. Under the law, you can give a maximum of $111,000 this year. For example, you can give each organization $55,500 this year or any other combination that totals $111,000 or less. Any amount of more than $111,000 in one year must be reported as taxable income.

For more information please contact Susanna at 410-822-4903 or by email