Support your favorite charities
Using your IRA and Save Taxes

 

A refresher on what an IRA account is for….

An Individual Retirement Account (IRA) is a type of investment account designed to help people save for retirement. There are several reasons why it might be important to have an IRA:

  1. Tax advantages: Contributions to an IRA may be tax-deductible, and the money in the account can grow tax-free until you withdraw it in retirement.

  2. Supplement to Social Security: Social Security will likely not be enough to sustain you in retirement, so it's important to have additional sources of income. An IRA can help you save for retirement and provide an additional income stream when you stop working.

  3. Flexibility: There are several types of IRAs to choose from, including traditional, Roth, SEP, and SIMPLE IRAs, each with its own set of rules and eligibility requirements. This flexibility allows you to choose the type of IRA that best fits your needs.

  4. Forced savings: An IRA can be a good way to save for retirement because it forces you to save a portion of your income each year. This can be especially helpful if you have trouble saving on your own.

  5. Professional management: If you choose to invest your IRA in mutual funds or other professionally managed investments, you can benefit from the expertise of investment professionals.

Overall, an IRA can be a valuable tool for helping you save for retirement and achieve your financial goals.

Making your charity Gifts from your IRA may reduce your taxes and social secuity and medicare premiums!


At 70 1/2, the IRS requires IRA account holders to begin taking what is called an RMD or Required Minimum Distribution each year.

After all, they did not tax the funds you added each year to your IRA and they want to get those taxes back.

We don't know what their formula is or but the reason the RMD seems to change from year to year but it is likely based upon the value of the IRA and your life expectancy.

The IRS considers money taken for the RMD as regular income and will be taxed it as if it was, 

You will also likely pay social security and medicare premiums based upon the income level produced by the RMD.

But thanks to Congress's suport for charities, they have provided that if you decide to make gifts to your favorite charities, these gifts will be treated as RMD income but not subject to tax, thus lowering your tax liability and the income level that determines your social security and medicare premiums.

For now, you can make total gifts to charity up to $100,000.

Hunter’s Fund qualifies for gifts from all IRA funds:

Gifts to Hunter’s Fund Qualify as an IRA Gift.

Here are links to the most popular IRA Brokers:

Fidelity Investments - Visit
Charles Schwab - Visit
Vanguard - Visit
Betterment - Visit
Interactive Brokers - Visit
Merrill Edge - Visit
Fundrise - Visit
E-Trade - Visit
Wealthfront - Visit
Interactive Brokers - Visit

It may not be as simple as writing a check, but this one one step will probably pay off in savings to you.

You can make a donation to Hunter's Fund by contacting the brokerage that manages your IRA account and request them to make a donation to Hunter’s Fund.

You only need to provide the official name and IRS number for Hunter's Fund, which is:

Official Name- Hunter Brooks Watson Memorial Fund

IRS Number - EIN 83-0574041.

The broker will then process your donation and send the gift to Hunter’s Fund.

Gifts made to the Hunter Brooks Watson Memorial Fund through your IRA can be designated for use to the area that matches your interest, such as grants for young people to explore meaningful ideas that can change their lives or to make possible safe driving programs at our high school and college campuses.

Time saving Tip: Many of our donors use this one call to make all their gifts to charities for the year. It will save time and you and your chatiretes will be sure to benefit more by doing this all at once.

Hunter’s Fund was awarded Candid’s Platinum Transparency Seal. Less than 5% of all charities have received this recognition.
Candid is the words leading provider of information on charities.

Receive immediate credit for your IRA Gift by letting us know below: