Satisfy your required minimum distribution (RMD), save on taxes, and help animals in need. The IRA Charitable Rollover provides you with an excellent opportunity to make a gift during your lifetime from an asset that would be subject to multiple levels of taxation if it remained in your taxable estate.
- You must 70.5 years or older at the time of the gift.
- The transfers must originate from a traditional IRA or Roth account.
- Your plan provider must issue the donation directly to the charity.
- Your gift can be any amount up to $100,000
- You will benefit from giving even if you do not itemize deductions.
- The transfer can be made in addition to other charitable giving planned.
Contact your IRA administrator or plan provider to discuss your gift intent. They will provide instructions on how the process works. Be sure to ask your provider to add your name and contact information along with your gift.
Many sponsoring organizations will not share your personal information unless you have given your consent. If you would prefer, please contact Kristin at [email protected] or 502-515-3147 so we can forward a thank you/receipt and ensure your gift gets to where you intend it to go.
YOUR IRA ROLLOVER GIFT WILL HAVE KHS PETS ROLLING OVER FOR JOY!
Donor Advised Funds
A Donor Advised Fund, or DAF, is a giving program that allows you to combine favorable tax benefits with the flexibility to support KHS. It allows you to make a charitable contribution, receive an immediate tax benefit and then recommend gifts/grants from the fund over time. It's a great way to simplify your charitable giving.
If you have a Donor Advised fund, DAF Direct enables you to recommend grants to the Kentucky Humane Society directly from your DAF. If your Donor Advised Fund does not participate in DAF Direct, just ask your financial advisor to designate a gift to KHS. And please let us know when you do, so we can say thank you.
Already Have a Donor Advised Fund?
When you make a gift from your DAF, it’s possible that the sponsoring organization will not share your information with KHS. Please send Kristin a note at [email protected] or 502-515-3147 so we can make sure to thank you and ensure your gift gets to where you intend it to go.
More ways to help animals through your Donor Advised Funds:
- Choose KHS as a beneficiary of all or a portion of any remaining funds.
- Create a recurring gift with KHS and help companion animals all year long.
- Contact your employer for matching gift opportunities.
- From May 5 through September 30, 2020, donors can nominate a non-profit to be eligible for a matching grant of up to $10,000. All you need to do is nominate KHS, make a grant from your DAF, then commit to granting half your DAF by September 30, 2020: www.halfmydaf.com
For stock held in brokerage accounts, your broker can assist you in making a gift of stock via a direct transfer to KHS. Giving a gift of publicly traded stock that has increased in value and that you have owned for more than one year may provide better tax benefits than giving cash. Your charitable income tax deduction is equal to the fair market value of the stock and you avoid paying the capital gains tax on any increase in the current value over the original cost of the stock. You may also save on brokerage fees because you are transferring ownership rather than selling the stock. Download our Stock Transfer Instruction Form (PDF)
There are several ways to donate to the Kentucky Humane Society using life insurance. They can be policies that are paid in full, partially paid, or newly purchased. KHS can be named as owner and beneficiary for your fully paid policy. You may deduct the replacement cost of the policy from your taxes. You can also designate KHS as the beneficiary of the policy you already have. There is no immediate deduction, but your estate will receive a deduction equal to the amount of the policy when settling.
For more information, contact the Kristin Binkowski at 502-515-3147 or [email protected].
Neither the Kentucky Humane Society nor its employees may give legal, tax, or accounting advice. Counsel should be contacted prior to drafting or amending any instrument.