Make a gift to Habitat tax-free with an IRA

A tax-saving way to support Twin Cities Habitat for Humanity

If you are 70 ½ years old or older, you can take advantage of a simple way to benefit Twin Cities Habitat for Humanity and receive tax benefits in return. You can give up to $100,000 from your IRA directly to a qualified charity, such as Habitat, without having to pay income taxes on the money.

The IRA Charitable Rollover law no longer has an expiration date so you are free to make annual gifts this year and well into the future.

Here's how to do this:

By giving to Habitat you will be building a legacy by supporting Twin Cities families. If you are not old enough to be part of this giving opportunity, consider talking about it with someone you know who is (parents, grandparents, aunts, uncles, etc.). Donor must be at least 70 ½ years of age when the gift is made.

• If you are required to take a minimum distribution from your IRA accounts this year, you may want to consider donating to Twin Cities Habitat in lieu of some or all of the required distributions.
• You transfer the money direct from an IRA account to Twin Cities Habitat.
• Only traditional IRAs or qualified plans rolled into a traditional IRA are eligible.
• To qualify for this tax year, eligible gifts msut be received or postmarked by December 31, 2017.

Here's some of the advantages:

• Reduce your IRA assets that might be highly taxed at a later time.
• You pay no income taxes on the gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your deductions.
• Make a more meaningful gift than you might otherwise be able to afford.
• Your gift will be put to use today, allowing you to see the impact your generosity is making.

This is a simple way you can build brighter futures for families across the twin cities. Every gift makes homes affordable, giving families the opportunity to build a strong and stable foundation for success.