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IRAs and Retirement Plans

Donating Retirement Assets

Donating your IRA or other retirement plan assets to charity can be a tax-smart estate planning strategy, and it is simple to do. In some situations, it can mean more funds to charities and heirs alike.

If you are 70 ½ years old or older you can contribute up to $100,000 from your IRA directly to a charity and avoid paying income taxes on the distribution. Learn more about the IRA Qualified Charitable Distribution.

As part of an estate plan, charitable donations of retirement assets can minimize the amount of income taxes imposed on both your individual heirs and your estate.

Next steps:

  1. Contact Samantha Beebout at (406) 595-0947 or samantha@americanprairie.org for additional information on a gift from your IRA or retirement plan, or to discuss the different options for including American Prairie in your estate plan.
  2. Contact the administrator of your retirement plan for a change-of-beneficiary form or simply download the form from your provider’s website.
  3. Decide what percentage (1 to 100) you would like American Prairie to receive and name our legal name, American Prairie Foundation, along with the percentage you chose, on the beneficiary form. You may need to include our address or federal tax ID number:

    Legal Name: American Prairie Foundation
    Address: 7 East Beall Street, Suite 100, Bozeman, MT 59715
    Federal Tax ID Number: 81-0541893
     
  4. Return the completed form to your plan administrator.