GIFTS OF RETIREMENT FUNDS/IRAs

With your support, we are confident we can leave a legacy of healthy forests, clean waters, abundant wildlife, and natural areas that will improve the quality of life for generations to come.

You may have a significant qualified retirement plan, such as an IRA, 401(k), or Keogh plan that has grown tax-free for years.  When you begin drawing payments from these retirement assets, the distributions are taxed and the remainder also will be included in your taxable estate.  Hence, a retirement plan may be an excellent source for any estate gift to WPC, as designating WPC as a beneficiary allows you to minimize the tax consequences for your children or other retirement fund beneficiaries.

Donors age 70½ or older once again are eligible to move as much as $100,000 from their IRAs to qualified charities without having to pay income taxes on the money.

Congress provided special transition rules to resolve some of the issues associated with enacting this late extension. The first rule calls for qualified distributions made by Feb. 1, 2013 to be retroactively included in the 2012 tax year.

Those who took a Required Minimum Distribution from their IRA in December can use it for charitable purposes. The IRA Charitable Rollover allows donors who took a distribution from an IRA in December 2012 to contribute to a qualified charity, like the Western Pennsylvania Conservancy, before Feb. 1, 2013 and treat it like a direct transfer.

Please note: the Conservancy is required to count all charitable gifts in the year in which they are received. However, this law allows individuals to make charitable transfers until Feb. 1, 2013 and treat them as if they were made during 2012 for tax purposes.

Donors should consult their tax advisor to determine if supporting WPC with a gift from their IRA is a good option.

 

APPRECIATED SECURITIES 

A viable alternative to a cash gift is a gift of appreciated securities. If you have owned the stocks or securities for more than one year, you are entitled to a charitable income tax deduction for the fair market value of your gift to the fullest extent permitted by law. You also avoid paying capital gains tax on the appreciation of the securities. Please contact your financial advisor for further information about tax deductions and eligibility.

1. Electronic Transfer through your Broker
Securities may be transferred electronically via DTC (Depository Trust Company) from your broker to the Western Pennsylvania Conservancy account at Janney Montgomery Scott. Please instruct your broker/agent to transfer securities to:

Janney Montgomery Scott, LLC
DTC: # 0374
Account: # 8678-4303
FBO Western Pennsylvania Conservancy
Attn: Cindy Pastin
1-412-562-7935

Mailing address:
Janney Montgomery Scott, LLC
600 Grant Street, Suite 3100
Pittsburgh, PA 15219

The transfer is effective when the Western Pennsylvania Conservancy receives the securities in its account at Janney Montgomery Scott. Please instruct your broker to call the WPC Development Office immediately at 412-586-2336 for acceptance of the gift and for further instructions.

2. Delivery By Mail of Physical Stock Certificates Registered in the Donor's Name
For instructions, please contact the Development Office at the number below.

 

REAL ESTATE

Depending on your situation, gifts of debt-free real estate are deductible at the full, fair market value on the day of the gift. Even better, there is no capital gains tax on the appreciation. Although an appraisal is needed to support your income tax deduction, you avoid the typical costs and delays associated with selling real estate.
Real estate that meets WPC's conservation objectives will be preserved in its natural state. Agricultural and timberland can be preserved for those uses. Other real estate, including homes, lots, and commercial property will be sold and the proceeds will benefit our conservation efforts.
 

Please Note: If you are considering a gift of land, we request that you notify us in advance so that we may discuss your intentions and ensure that your gift is handled according to your wishes. 

For more information, call 412-586-2336 or e-mail development at development@paconserve.org.