An IRA Charitable Rollover Provides a Very Special Opportunity for Those 70½ Years Old and Older to Give

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It’s possible for you to support the Sandy Point Heritage Foundation (SPHF) through your IRA. You can give any amount up to a maximum of $100,000 per year from your IRA directly to a 501(c)(3) nonprofit such as SPHF without having to pay income taxes on the distribution. This popular gift option is commonly called the IRA charitable rollover and is also referred to as a qualified charitable distribution, or QCD for short. Make a difference today and save on taxes.

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Why Consider This Gift? 

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Your gift will be used immediately to help preserve and steward Sandy Point Stables for the lasting benefit of our community. SPHF’s mission is to preserve Sandy Point and give people of all backgrounds and abilities the transformative experiences with horses. We believe this mission is deeply rooted in the heritage of our community, and hope you will join us in making a difference by contributing to our cause. 

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Beginning in the year you turn 73, you can use your gift to satisfy all or part of your required minimum distribution (RMD). You pay no income tax on the withdrawal. Your gift is tax neutral - it generates neither taxable income nor a tax deduction.  

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And since the gift doesn’t count as income, it can reduce your annual income level. This may help lower your Medicare premiums and/or surcharges and decrease the amount of Social Security that is subject to tax. 

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For those 59½ years Old or older, 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. 

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Next Steps:  

Contact your IRA plan administrator and direct them to make a direct transfer for a specific amount to:  

 

Four Hearts Foundation

PO. BOx 912 Portsmouth, RI 02871

Federal Tax ID number: 88-1227879

MEMO: donation on behalf of Sandy Point Heritage Foundation

 

Please request that your administrator include your name and address as the donor of record in connection with the distribution to SPHF. You should also request that you be copied on the transmittal.  

  

If you have questions or would like more information on how to make your IRA Charitable Rollover/QCD gift to SPHF, please contact us at info@SandyPointHeritage.org or +1-401-300-0851