Gifts of IRA or Retirement Plans

If your retirement fund is larger than you and your family need, you may consider using a portion of it to support the preservation of the Upper Saco River Valley. 

Retirement Plan Withdrawals

If you are between the ages 59.5 and 70.5 you can withdraw money from your retirement funds - IRAs, 401(k)s, 403(b)s, or other comparable plans - and contribute to a charity like USVLT. The money you withdraw will be added to your taxable income, but you will receive a charitable dedication for the same amount.

IRA Rollovers

In eligible tax years, individuals 70.5 and over can make a Qualified Charitable Donation to exclude up to $100,000 from gross income for donations paid directly to a qualified charity from their IRA. This satisfies any IRA-required minimum distribution for the year.

If you are 70.5 or older and wish to direct a charitable donation to USVLT from your individual retirement account (IRA):

  1. Contact your broker that you are making a charitable contribution to the Upper Saco Valley Land Trust.
  2. Instruct your broker to transfer the charitable donation into the Upper Saco Valley Land Trust’s account at Charles Schwab:

 

Custodian: Charles Schwab

Account Name: Upper Saco Valley Land Trust

Account Number: 3566-1079

DTC # 0164

If you are not sure if you need our FEIN or Charles Schwab's, here's both:

USVLT tax id              02-0521030

Schwab             94-1737782

 

After completing the transfer, please contact Eric White at USVLT to let us know the arrangements you have made. This is important because we may not know who the gift is from if your broker does not include your name in the transfer. Notifying us enables us to track the transfer and acknowledge your gift properly and promptly, even if you decide to keep it anonymous. 

Direct Transfers of Non-IRA Funds for People over the Age 70.5

If you are age 70.5 or older but have a plan other than an IRA, you cannot use the direct “rollover” feature, but can transfer from that plan to an IRA to then do a direct rollover to a charity from an IRA.

Naming USVLT As A Retirement Plan Beneficiary

You can also name USVLT as a beneficiary for part or all of your retirement plan. To do this either contact your plan administrator and request a change-of-beneficiary form, or go to your plan administrator’s website to login and make the changes yourself. Naming USVLT as a beneficiary of your retirement plan may result in tax benefits to your other beneficiaries. 

Talk with your financial advisor, retirement plan advisor, or attorney for more information on the benefits and ways to name USVLT as your beneficiary.

 

For more information contact Eric White at 603-662-0008 or ewhite@usvlt.org.