A Tax-Saving Way to Help The Bowery Mission
If you are 70½ years old or older, you can take advantage of a simple way to benefit The Bowery Mission and receive tax benefits in return. You can give up to $100,000 from your IRA directly to a qualified charity such as ours without having to pay income taxes on the money.
This law no longer has an expiration date so you are free to make annual gifts to our organization this year and well into the future.
Why Consider This Gift?
- Your gift will be put to use today, allowing you to see the difference your donation is making.
- 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.
- If you have not yet taken your required minimum distribution for the year, your IRA charitable rollover gift can satisfy all or part of that requirement.
Frequently Asked Questions
- Contact Don Hall at 646-362-3157 or email@example.com for additional information on giving an IRA gift.
- Seek the advice of your financial or legal advisor.
- Ask your IRA administrator about making a direct transfer to The Bowery Mission or have the administrator send a check from your account to us. (To be tax free, the donation must go directly from your account to The Bowery Mission without passing through your hands.)
Legal Name: The Bowery Mission
Address: 432 Park Ave South, 3rd Floor, New York, NY 10016
Federal Tax ID Number: 13-1617086
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance. A copy of our most recently filed financial report is available from the Charities Registry on the New York State Attorney General’s website (www.charitiesnys.com) or, upon request, by contacting the New York State Attorney General, Charities Bureau, 28 Liberty Street, New York, NY 10005, or us at 432 Park Ave South, 3rd Floor, New York, NY 10016. You also may obtain information on charitable organizations from the New York State Office of the Attorney General at www.charitiesnys.com or (212) 416-8401.