When you make a gift of stock to FEE you will avoid the tax on capital gains and receive a charitable deduction for the full fair market value of the stock.

Electronic Transfers

It is easy and secure to transfer stock electronically. Simply ask your broker to contact ours with the following information:

At the time of the transfer, please let us know the name and number of shares you are transferring by contacting Carl Oberg, Director of Finance at (404) 554-9980, extension 222 or [email protected]. Carl would also be happy to answer any questions you might have.

Transfers by Mail

If you have the stock certificates in your possession, please send the unendorsed certificates and signed stock powers, in separate envelopes, by registered mail to:

Qualified Charitable Distributions from IRAs

Important Opportunity If You Are Aged 70 ½ or Older

Qualified Charitable Distributions (“QCDs”) may be the single most tax-efficient way for you to make charitable donations if

• you are a U.S. taxpayer aged 70½ or older
• with significant assets in one or more IRAs and
• adjusted gross income over about $260,000.

This is true from both a current-year perspective and an estate-planning perspective.

From a current-year perspective, QCDs enable you to exclude up to $100,000 of your required minimum IRA distribution from taxable income by directly gifting it to qualified charities.

You could simply take your required minimum IRA distribution, add it to your adjusted gross income and then take deductions for your charitable contributions on Schedule A—same “bottom line.”

However, many “soak-the-rich” provisions of the tax code are triggered by the “top line”—adjusted gross income—without allowance for deductions. As your income rises above certain thresholds, some as low as $260,000 (single) or $310,000 (joint), you are increasingly vulnerable to concerns such as

• Phase-out of Schedule A deductions
• Increased Medicare premiums
• The 3.8% surtax on investment income
• Alternative minimum tax

QCDs reduce the impact of these income-driven issues because they are excluded from adjusted gross income.

From an estate-planning perspective, a QCD is a better way to reduce your estate than a charitable donation of appreciated securities.

If you bequeath to your heirs those Apple shares that you bought at $50, there will be estate tax on the full value, but no capital gains tax. If you bequeath an IRA to your heirs, not only will your estate pay the estate tax on the full amount, your heirs will pay ordinary income tax when they receive the cash.

Said differently, a QCD enables both you and your heirs to avoid paying ordinary income tax on the full amount of the gift. A donation of appreciated securities only enables you to avoid paying capital gains tax on the amount of the unrealized gain, a tax that your heirs would not be subject to in any event.

In December 2015, Congress made QCDs a permanent feature of the tax code, no longer subject to year-by-year extensions. The tax benefits of QCDs are limited to $100,000 in total gifts per taxpayer per year on a “use it or lose it” basis.

One important limitation of QCDs is that that the gifts must be made to “eligible charities,” which generally means operating charities like FEE, and not intermediate entities such as grant-making foundations, donor-advised funds, private foundations, supporting organizations, charitable gift annuities, charitable remainder trusts, and pooled income funds.

In order to take advantage of the important benefits of QCDs, we suggest that you:

• Consult your legal or tax advisor. We cannot give legal or tax advice and the information provided here may be incomplete or unsuitable for your particular circumstances.
• Contact your IRA plan administrator to determine the form of instructions that it requires for QCDs. (Click here for a sample letter of instruction that provides the information that most administrators will require for making a QCD to FEE, whether by check or by wire transfer.)
• Contact FEE to let us know the arrangements so that we can facilitate the distribution and provide you the necessary documentation for tax reporting. (Click here for a sample email for that purpose.)

For assistance with the transfer, please contact Director of Finance Carl Oberg, [email protected], 571-214-1179. For questions about the QCD and other planned giving vehicles, please contact Executive Director Wayne Olson, [email protected], 914-830-5284, or Director of Development Justin Streiff, [email protected], 602-657-1343.

Frequently Asked Questions About Qualified Charitable Distributions

Does a QCD count toward my minimum required distribution for the year?

Yes.

Is a QCD reportable as income?

No.

Does a QCD reportable as a charitable deduction?

No, because it’s not reportable as income in the first place. Therefore, it isn’t subject to any phase-outs that would otherwise apply to Schedule A deductions.

Can I apply proceeds from a distribution that I’ve already taken from my IRA?

No. The distribution must go directly from the IRA to the charity. Unlike certain rollovers, QCDs cannot pass through the account owner’s hands.

What kinds of charities are eligible?

Generally, operating charities like FEE. Intermediate entities are generally not eligible, for example, grant-making foundations, donor-advised funds, private foundations, supporting organizations, charitable gift annuities, charitable remainder trusts, and pooled income funds

Can a married couple filing jointly make QCDs totaling $200,000?

Yes, provided that each spouse has his or her own IRA and each does a QCD of no more than $100,000.

Can a QCD be for more than $100,000?

Yes, although the excess over $100,000 will be counted as a taxable distribution, and any tax benefit on such excess would have to be gotten through claiming a charitable deduction on Schedule A.

What if I turn 70 ½ during the year?

To be eligible for QCD treatment, you must be 70 ½ or older at the time of the distribution.

Can 401(k) or 403(b) accounts be used?

No; only after the funds have been rolled into an IRA can they be used for a QCD.

What about state income taxes?

You will need to consult your advisor, as each state has its own approach.

Can I designate a QCD for a specific program or purpose at FEE?

Yes. However, you cannot receive any personal benefit from the donation.

If you have a product, service, or other item that you would like to donate to FEE, you may donate it as a Gift in Kind. Non-cash gift examples are airline tickets, food and beverages, books, design and printing services, advertising space, vehicles, etc.

Gifts in kind to FEE are tax deductible under state and federal laws. The Foundation will send you a gift receipt acknowledging your contribution of goods or services. You will determine the dollar value of your in-kind donation.

For more information, contact:

Elise Thompson
Development Operations Manager
[email protected]
404-554-9980 extension 232

 

Invest in Freedom’s Next Generation through a bequest or planned gift to the Foundation for Economic Education. Through this type of support, you will become a member of the Leonard E. Read Legacy Society, and will be investing in the future of freedom.

Leonard E. Read (1898–1983) founded FEE in 1946. For the following 37 years he served as FEE’s president and labored tirelessly to promote and advance liberty. He was a natural leader who, at a crucial moment in American history, roused the forces defending individual freedom and private property.

My first FEE seminar was a turning point in my education. At FEE, I was first exposed to ideas that would inspire the rest of my time in university, and eventually even my career.

-Zach Caceres

For more information, contact:

Elise Thompson
Development Operations Manager
[email protected]
404-554-9980 extension 232

If you would like to make your contribution by mail, please make checks payable to "Foundation for Economic Education" and mail to:

FEE
1819 Peachtree Road NE
Suite 300
Atlanta, GA 30309

If you intend for your contribution to go towards a specific project, please make such an indication when submitting your contribution.

For more information, contact:

Elise Thompson
Development Operations Manager
[email protected]
404-554-9980 extension 232

 

Electronic Funds Transfers (Wire Transfers)

It is easy and secure to electronically transfer (wire) a donation to FEE. Simply contact your bank and request a funds transfer to the following account:

Contact: Carl Oberg
Account Name: Foundation for Economic Education Inc.
Bank Name: BB&T
Account #: 5246768139
Routing #: 061113415

Please note that electronic funds transfers do not include the name or contact information for the person initiating the funds transfer (i.e., the donor).

Accordingly, when wiring funds, please also contact Carl Oberg, Director of Finance directly, to provide him with your name and contact information, so that we can acknowledge your gift and provide you with a tax receipt. Carl can be reached by calling (404) 554-9980, extension 222, or by emailing [email protected]

It's official: FEE accepts donations in bitcoin. Donate a few bitcoins today to help us fulfill our mission to inspire, educate and connect future leaders with the economic, ethical and legal principles of a free society. Don't know what Bitcoin is? Check out Bitcoin for Beginners by Jeffrey Tucker.

Donate Bitcoin

Bitcoin address: 15wDJRfsyomAgvX2TdW32gdYtAWZtAd1ps

FEE accepts matching gifts through various corporate matching programs. Check with your employer to find out if your gift is eligible for a match.

All matching gift forms and requests for more information should be addressed to:

Elise Thompson
Development Operations Manager
[email protected]
404-554-9980 extension 232