Your gift to the Arizona-Sonora Desert Museum
The opportunity of a lifetime to make the gift of a lifetime
As you consider your end of year gift to the Arizona-Sonora Desert Museum of cash or other assets, your individual retirement account (IRA) may very well be your best choice.
IRA Charitable Rollover legislation has been extended retro-active to 2008 and 2009. During 2008 and 2009, holders of traditional IRAs who are at least 70½ or older and required to make minimum withdrawals can transfer up to $100,000 per year directly to charity - bypassing income tax.
This extension comes as part of the Emergency Economic Stabilization Act of 2008, and enables you to give to the causes you care about.
This is a limited-time offer. The window is now open and enables you to not pay taxes on the amounts transferred up to $100,000 on or before December 31, 2008 for 2008 or December 31, 2009 for 2009. If you are interested in establishing a permanent legacy at the Arizona-Sonora Desert Museum, this is the opportunity of a lifetime to make the gift of a lifetime.
Your benefits:
- The transfer can be used to satisfy your Minimum Required Distribution (MRD)
- The transfer generates neither taxable income nor a tax deduction, so you will receive the benefit even if you do not itemize your tax deductions.
- From one-of-a-kind exhibits, inspiring programming for all ages, and conservation efforts in the Sonoran Desert region, you can see firsthand the difference your involvement will make to your Desert Museum now!
To qualify:
- You must be age 70½ or older at the time of the gift
- Transfers must be made from a traditional or Roth IRA account by your plan provider DIRECTLY to the charity. Funds that are withdrawn by you and then contributed to NOT qualify.
- Gifts from 401K, 403b, SEP and other retirement plans do not qualify.
- Gifts must be outright. Distributions to donor-advised funds, supporting organizations, or life-income arrangements such as charitable remainder trusts and gift annuities are precluded.
Another tax-smart strategy is to name the Desert Museum as beneficiary of all or a portion of your IRA assets - leaving a significant planned gift that is free of all income and estate taxes.
Contact the Development Office at the Arizona-Sonora Desert Museum at (520) 883-3055 for more information.
The material presented here is not offered as legal or tax advice. We recommend you seek the advice of your tax advisor, attorney, and /or financial planner to make certain your considered gift fits well with your overall circumstances and planning.
