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Did you know that you can designate Brooklyn Botanic Garden as the beneficiary of all or a percentage of your IRA? It's simple, just requiring that you contact your IRA administrator for a change-of-beneficiary form or download a form from your provider’s website.
If you’re at least 59½ years old, you can take a distribution and then make a gift from your IRA without penalty. If you itemize your deductions, you can take a charitable deduction for the amount of your gift.
You can take advantage of a simple way to benefit Brooklyn Botanic Garden and receive tax benefits in return. You can give any amount up to $100,000 annually from your IRA directly to a qualified charity such as Brooklyn Botanic Garden without having to pay income taxes on the money.
By making a gift this year of any amount up to $100,000 from your IRA, you can see your philanthropic dollars at work. You are jump-starting the legacy you would like to leave and giving yourself the joy of watching your philanthropy take shape. Moreover, you can fulfill any outstanding pledge you may have made by transferring that amount from your IRA as long as it is $100,000 or less for the year.
No. The legislation requires you to reach age 70½ by the date you make the gift.
Yes. Your gift to a qualified charity can be made only from an IRA. Under certain circumstances, however, you may be able to roll assets from a pension, profit sharing, 401(k) or 403(b) plan into an IRA and then make the transfer from the IRA directly to Brooklyn Botanic Garden. To determine if a rollover to an IRA is available for your plan, speak with your plan administrator.
Yes, absolutely. If you have not yet taken your required minimum distribution, a gift made directly from your IRA can satisfy all or part of that requirement. Contact your IRA custodian to complete the gift.
We must receive your gift by Dec. 31 for your donation to qualify this year. If you have check-writing privileges on your IRA account, please mail your check by Dec. 20 in order to give us time to process your gift before the end of the year.
No. You can give any amount under this provision, as long as it is $100,000 or less this year. If your IRA is valued at more than $100,000, you can transfer a portion of it to fund a charitable gift.
No. Under the law, you can give a maximum of $100,000 per year. For example, you can give each organization $50,000 this year or any other combination that totals $100,000 or less. Any amount of more than $100,000 in one year must be reported as taxable income.
If you have a spouse (as defined by the IRS) who is 70½ or older and has an IRA, they can also give any amount up to $100,000 from their IRA.
Unfortunately, the law does not allow a lifetime gift made directly from your IRA to fund a charitable remainder trust or charitable gift annuity.
Legal name: Brooklyn Botanic Garden Corporation
Address: 1000 Washington Avenue, Brooklyn, NY 11225
Federal tax ID number: 11-241-7338