With your IRA, you can help further United Way’s mission of driving sustainable improvements in the well-being of children, families and individuals in our community through maximizing your charitable impact. Avoid taxes for you and your heirs, AND help United Way at the same time, whether or not you itemize! United Way can be named as a partial, primary or contingent beneficiary. In most cases, it is as simple as filling out a short form with your plan administrator to name United Way as a beneficiary.

Qualified Charitable Distributions (QCDs) and Required Minimum Distributions (RMDs) are the savviest way for individuals age 70½ or older to use their IRAs to maximize their charitable impact.

QCD: Any taxpayer that is 70.5 or older with a traditional IRA can give a tax-free gift called a QCD to the United Way of Greater Atlanta. These gifts can be made whether or not you itemize and reduce your future tax burden. This is a smart giving option to reduce your future RMDs. Donors can transfer up to $100,000 directly from their IRA to United Way on an annual basis. By donating it to United Way, you avoid income taxes on the distribution.

RMD: If you are 72 years or older, you can use the IRA rollover transfer to United Way to meet all or part of your annual RMD.

Talk with your financial advisor or tax professional to determine your best strategies. Contact your United Way representative for a confidential conversation about ways to save on taxes while supporting our community.

Questions? Contact Eve Powell at United Way for a confidential conversation about maximizing your giving at epowell@unitedwayatlanta.org, 404-527-7215.
To learn about other ways to plan your giving, click here.
Lyn and Bob Turknett of Turknett Leadership Group use an IRA to support the work of United Way of Greater Atlanta.
What inspires you to live United?

We have been committed to United Way – as volunteers and donors – for decades, because we have seen the power of tackling community problems TOGETHER. UWGA is a powerful force for real change in our community and has the ability to bring all the community together – nonprofits, businesses, local communities, government agencies – all of us – to effectively address our most difficult problems. As a longtime volunteer at the local level I have seen the power of United Way up close and personal.

What prompted you to utilize your IRA for your Cole and Tocqueville Society contribution?

We are old enough to be required to take distributions from our IRA, and, of course, those distributions are taxable as ordinary income. When a gift is given directly from the IRA to a qualifying charity, the income is NOT taxable, but still counts toward your minimum distribution.

How did you learn you could use your IRA for charitable purposes?

From my sister! She and her husband had seen something about this in a newsletter from their financial advisor, and Bob and I began looking into it.

What advantages do you think this method of giving has over others?

Likely only right for some, but it fits for us because it minimizes tax liability.

Would you recommend others to also utilize this method?

YES – IF IT FITS THEIR SITUATION.

Who do you think would benefit from using this method?

Probably most people like us who are still working but who are old enough to be required to take minimum distributions from an IRA.

For more details on using your IRA to help our community, click here. Talk with your financial advisor or tax professional to determine your best strategies. For a confidential conversation about ways to save on taxes while supporting our community, contact your United Way of Greater Atlanta representative.