IRA Gift Option
On October 3, 2008 Congress approved, and President Bush signed, legislation to renew the provision that allows taxpayers 70.5 years old to make tax-free distributions from their IRAs directly to charity in 2008 and 2009. This is the same provision that was available to taxpayers in 2006 and 2007. Here’s how it works:
If you are 70.5 years of age, you can avoid paying taxes on your required IRA distribution by giving the distribution to a charity such as Green Bay Botanical Garden. This provision applies to both traditional and Roth IRAs. Donors may choose to make charitable distributions from their IRA in any amount up to $100,000. Donors may also split the distribution among two or more qualified charities.
Individuals who are required to take unneeded IRA withdrawals, and others who have experienced limitations on tax benefits in the past, will find this law of particular interest. To enjoy the benefit of this opportunity in 2009, donors must complete this year's transfer prior to December 31. To direct a donation to support Green Bay Botanical Garden, instruct your IRA administrator to send the distribution check to: Green Bay Botanical Garden, 2600 Larsen Road, Green Bay, WI 54303. Your administrator should identify you as the IRA account owner/donor by name and address in the cover letter. Please inform Green Bay Botanical Garden that you are making an IRA charitable distribution.
For More Information
For more information on IRA Gifts or to direct a donation to Green Bay Botanical Garden, please contact our Director of Development & Operations, Jake Czarnik-Neimeyer at (920) 491-3691 ext. 104 or jakecn@gbbg.org