Ages 70.5 and up can make a charitable gift to help lower tax bills
Recent federal tax law changes mean millions of people will take a standard deduction and no longer itemize their charitable deductions on their tax return. However, there is still an option for giving to your favorite charities that has the potential to significantly lower your tax bill.
If you are 70½ years or older, you can transfer up to $100,000 per year from your traditional IRA directly to charity. You won’t be taxed on the transfer and it satisfies your required minimum distribution. Contact your financial/tax advisor or IRA administrator to learn how to take advantage of this easy and effective way to give.
Your gift to the YMCA matters
As a 501(c)(3) not-for-profit social services organization, the Y asks for donations to continue our work to make a difference for the kids, teens, adults and families in our community. Your generosity gives access to a range of programs that address real-world needs in the areas of youth enrichment, health, wellbeing and social responsibility.
How to make a rollover gift to the Y
When you make your gift, instruct your financial institution to direct it to the YMCA of the Greater Twin Cities, Fed Tax # 45-2563299. Please note in the memo line, or accompanying correspondence, where the gift should be designated.
Contact Cecilia Moulton at 612-284-8859 for more information on ways to give to the Y.