Photo by Linda Clark

IRA Distributions

Giving a special gift to preserve wildlife habitat or to support our programs that help connect children and families to nature may be easier than you think!

If you are over 70 ½ and have an Individual Retirement Account (IRA), you can make direct distributions from your IRA account to Genesee Land Trust of any amount up to $100,000 each year of your required minimum distribution as a Qualified Charitable Distribution (QCD). 

While not tax deductible, the distribution would lower your annual gross income while having positive impacts. Therefore, you can avoid taxes on what would otherwise be a fully taxable distribution! A Qualified Charitable Distribution (QCD) may make even more sense now under the new tax law. This is because many charitable donations may not be able to be taken as a deduction now due to the doubling of the standard deduction (depending on if you can itemize deductions with your tax situation).

In fact, giving directly from your IRA by designating Genesee Land Trust as a beneficiary can be one of the easiest and smartest ways to give generously to one of your favorite causes. Many of our donors are using IRA giving to gift both during life with QCD from IRAs after 70 1/2 and afterwards through selecting Genesee Land Trust as a beneficiary of the account. 

It’s easy – just contact your financial professional and direct your IRA account manager to make a QCD to Genesee Land Trust. If you have any questions, please email Gay Mills at gmills@geneseelandtrust.org or call (585) 256-2130.