Tax-Saving Way to Help Habitat OC
Smart Giving From Your IRA
Make a difference today and save on taxes. It is possible when you support Habitat for Humanity of Orange County through your IRA.
A Special Opportunity for Those 70½ Years Old and Older
You can give any amount (up to a maximum of $105,000) this year from your IRA directly to a qualified charity such as Habitat for Humanity of Orange County without having to pay income taxes on the money. Gifts of any value $105,000 or less are eligible for this benefit and you can feel good knowing that you are making a difference at Habitat OC. This popular gift option is commonly called the IRA charitable rollover, but you may also see it referred to as a qualified charitable distribution, or QCD for short.
Why Consider This Gift?
- Your gift will be put to use today, allowing you to see the difference your donation is making.
- If you are required to take minimum distributions, you can use your gift to satisfy all or part of your obligation.
- You pay no income taxes on the gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your deductions.
- Since the gift doesn’t count as income, it can reduce your annual income level. This may help lower your Medicare premiums and decrease the amount of Social Security that is subject to tax.
For Those 59½ Years Old or Older
If you are 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.
At Any Age
No matter your age, you can designate Habitat for Humanity of Orange County 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.
Tip: It is 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.
Next Steps
- Contact Donor Relations at (949) 209-5927 or DonorRelations@HabitatOC.org to discuss using your IRA to support Habitat Orange County and our mission.
- Seek the advice of your financial or legal advisor.
- If you include Habitat for Humanity of Orange County in your plans, please use our legal name, address, and federal tax ID. Please let us know of your gift (many retirement plan administrators assume no responsibility for letting nonprofits know of your intentions so your goals might not be honored.)(949) 209-5927
Legal Name: Habitat for Humanity of Orange County, Inc.
Address: 2200 Ritchey St., Santa Ana, CA 92705
Federal Tax ID: 33-0311059
Contact Us
Our team would be happy to speak with you in confidence, with no obligation.
Already included us in your estate plan?
Disclaimer
Information contained herein was accurate at the time of posting. The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results.
- 2200 Ritchey Street Santa Ana, CA 92705