As the year draws to a close, now is an ideal time to complete gift pledges and make special gifts to The NRA Foundation. By completing charitable gifts by Dec. 31, you can be eligible for additional tax savings next April.
During the final weeks of 2022, make time to discuss your charitable plans with your family and financial advisors. Everyone's circumstances are different, making it important to structure gifts in ways that are most beneficial for you.
Don't forget that gifts of appreciated stocks or bonds or, perhaps, distributions from retirement plans may be your most attractive option. It can be advantageous to "bunch" or combine gifts into a single year, allowing taxpayers to alternate between taking the standard deduction and itemizing.
Remember that if you want to donate appreciated stock, don't hesitate to contact us first. The gains are subject to taxation if you sell the stock and donate cash. The NRA Foundation is a tax-exempt charity, so a direct stock transfer allows you to make a gift without incurring capital gains tax. We will provide transfer instructions, so you can ensure your gift is eligible for tax savings.
Those with an IRA have long been required to withdraw a certain amount (called the required minimum distribution) based on their age. The law requires this withdrawal regardless of need. If you have done this in the past, you know what a taxing experience this can be.
But, you have a choice that will allow you to help The NRA Foundation in a unique way. It is now possible to make charitable gifts directly from your IRA through a qualified charitable distribution. By doing this, you will not pay additional federal income taxes, and you can satisfy all or part of your required minimum distribution withdrawal. IRA QCDs may be an attractive option for those over 70½.
Contact your IRA administrator for the forms necessary to make your gift. It may be possible to write a check directly from your IRA account. Don't hesitate to get in touch with the NRA Office of Advancement to inquire if you have any questions about making a tax-favored gift directly from your IRA. That office can be reached at (877) 672-4483 or [email protected].
Please know that we sincerely appreciate every gift—and every donor. Do not hesitate to ask us if you have any questions about a gift you are considering. If you would like to make a gift now, click here or mail your contribution to:
The NRA Foundation
11250 Waples Mill Road
Fairfax, VA 22030