Transferring funds from your IRA directly to Larimer Humane Society is an effective way to have an immediate impact on the animals in northern Colorado!
Here’s how it works:
- You must be 70 ½ or older.
- An individual may transfer up to a total of $100,000 per year ($200,000 for a married couple).
- When transferred directly from your IRA to Larimer Humane Society, your donation does not create taxable income for you and is not considered a charitable tax deduction.
- If you are 72 and older, the transfer of funds counts towards your annual Required Minimum Distribution* from your IRA.
- To make a transfer from your IRA, simply download a sample letter for your IRA administrator here.
* Congress has waived the annual Required Minimum Distribution from IRA Accounts in the year 2020 as part of the CARES Act in response to COVID-19. Please consider seeking advice from your financial advisor or tax professional to understand how recent changes to laws governing retirement plans may impact you and your charitable gift.