Did You Know?
Great Ways to Give From Your IRA or Investment Account
This Spring has brought fresh memories and adventures for the many Scouts we serve here in Scouting. Your support allows us to continue to deliver on the campouts, Eagle Scout service projects, rank advancements, and everything else that makes Scouting an unparalleled adventure.
This month we wanted to highlight an often-underutilized approach to giving back: giving through an Individual Retirement Account (“IRA”) and gifts of stock.
Making the move from “checkbook giving” to “asset-based giving” may be easier than you imagined. Here are just a few things to help you in deciding if asset-based giving is right for you:
1. Reduce Income Taxes through IRA Giving
If you’re 70½ or older, you can make a tax-free gift to Scouting America. Benefits include:
- See the difference you’re making today.
- Avoid some or all income taxes on the gift.
- If you are required to take minimum distributions, your gift can satisfy all or part of your obligation.
How to Make an IRA Gift
- Contact your retirement account administrator to make the gift.
- Share the enclosed gift transfer packet with your account administrator when making your gift request.
- Let us know about your gift so we can thank you and honor your gift intentions.
2. Magnify Your Impact After Your Lifetime
You can name Scouting America as a beneficiary of your retirement or investment account. This is a great option for extending support beyond your lifetime. It costs you nothing today.
Here’s how:
- Contact your retirement or investment account administrator.
- Name Scouting America Foundation as the beneficiary and select the gift percentage.
- Let us know about your gift so we can thank you.
3. Eliminate Capital Gains Tax on Assets
If you are invested in the stock market, chances are you may be holding appreciated assets. These assets are generally subject to capital gains tax at the federal and state level.
Donating publicly held securities directly to charity allows you to avoid paying capital gains taxes, while supporting the causes you care about.
Here’s how:
- Share the enclosed gift transfer packet with your account administrator when making your gift request.
- Make the gift request through your investment account administrator.
- Let us know about your gift so we can thank you.
Whether you make your impact today or after your lifetime, your gift matters.
Visit ScoutingAmericaLegacy.org or contact giftplanning@scouting.org.