Donate By IRA and Planned Giving

In the estate planning process, you can designate a beneficiary to receive some portion of your assets in your will. This is a type of planned gift called a bequest. 

Charitable bequests are specifically made to charitable organizations, like USS Yorktown Foundation. This type of bequest can be a transfer of cash, securities or other property made through your estate plans. 

Donors can name USS Yorktown Foundation in their will or trust, as the beneficiary of their life insurance, bank account, retirement assets, IRA, Payable on Death, or Transfer on Death, or establish a gift annuity. 

Please see your legal and/or tax advisor for more information and to determine if a charitable bequest to or for USS Yorktown Foundation is right for you.

Because charities do not pay income taxes on the donations they receive, distributions to charities will avoid being taxed as income. Donating part or all of your unused retirement assets, such as your individual retirement account (IRA), is an excellent way to make a contribution to a charity like USS Yorktown Foundation.

If you are over the age of 70 ½, you may give a gift from your IRA as a tax-free distribution to a qualified charity. This means an amount, up to $100,000 annually, transferred from your IRA directly to a charity like USS Yorktown Foundation can count toward your minimum distribution (RMD) without being considered taxable income for you. The deduction then lowers your adjusted gross income (AGI). The distribution, also known as an IRA Charitable Rollover is authorized by Section 408(d)(8) of the Internal Revenue Code. 

As a qualified charitable IRA rollover, the gift must be transferred from a traditional IRA directly to a qualified charity like USS Yorktown Foundation and must be completed during the applicable tax year. 

USS Yorktown Foundation’s Tax EIN – 46-1892486 

Mailing Address – 40 Patriots Point Road, Mt. Pleasant, SC 29464