Yes. Direct gifts to a qualified charity can be made only from an IRA. Under certain circumstances, however, you may be able to roll assets from a pension, profit sharing, 401(k) or 403(b) plan into an IRA and then make the transfer from the IRA directly to the National Flute Association. To determine if a rollover to an IRA is available for your plan, speak with your plan administrator.
If you’re 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.
No matter your age, you can designate the National Flute Association as the beneficiary of all or a percentage of your IRA and it will pass to us tax-free after your lifetime. It’s simple, just requiring that you contact your IRA administrator for a change-of-beneficiary form or download a form from your provider’s website.
It’s 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. We would also like to thank you for your generosity.
1. Contact Michael Williams at 720-815-5597 or firstname.lastname@example.org to discuss using your IRA to support the National Flute Association and our mission.
2. Seek the advice of your financial or legal advisor.
3. To include the National Flute Association in your plans, please use our legal name and federal tax ID. Please let us know of your gift (many retirement providers assume no responsibility for letting nonprofits know of your intentions, so your goals won’t be honored).
Legal name: National Flute Association
Legal address: 70 E. Lake Street, Chicago, IL 60601Federal tax ID number: 23-7306996