Give Through Your IRA
You must start taking Required Minimum Distributions by April 1 of the year after you turn 73, after which you must withdraw your RMD from your Individual Retirement Account (IRA) and possibly other retirement accounts every year. There is a simple way to meet your required withdrawals, avoid taxes, and support the Dane County Historical Society simultaneously.
Learn more about charitable contributions from retirement accounts by clicking here.
Here’s How It Works
1. Check to see what your Required Minimum Distributions are for each tax year
2. Contact your IRA custodian
3. Request a transfer of your gift amount (up to $100,000) directly to the Dane County Historical Society (EIN: 39-1143187). (Your spouse is also to use this tax provision.)
Caution: To avoid a tax charge, do not take the funds out of your retirement account directly. Instead, have the gift sent directly to this address:
Dane County Historical Society, 3101 Lake Farm Road, Madison, WI 53711
Note: If you prefer to give via stock, please contact Rick Bernstein, Executive Director, at (608) 224-3605 or firstname.lastname@example.org for instructions.
Who is Eligible
You can give through IRA-qualified charitable distributions if you:
– Are over the required age
– Have a traditional or inherited IRA
– Want to give on or before December 31st
How You Benefit
– Ensure you reach your required minimum distribution for the year.
– Lower your taxable income – these distributions are excluded from your adjusted gross income (AGI) even if you don’t itemize deductions!
– Keep Dane County history alive for generations to come.