Other Ways to Support FEE
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.
It is easy and secure to transfer stock electronically. Simply ask your broker to contact ours with the following information:
- Contact: Dan White, Charles Schwab & Co Inc
- Account name: Foundation for Economic Education Inc. (General Endowment)
- Account #: 62494855
- DTC #: 0164
- Code#: 40
- Phone: 800-435-4000 or 404-724-2469
- Fax: 404-724-2460
- Email: [email protected]
- Address: 1201 Peachtree St., NE Ste 400A, Atlanta, GA 30361
At the time of the transfer, please let us know the name and number of shares you are transferring by contacting Richard Lorenc, Executive Vice President at (404) 554-9980, extension 224 or [email protected]. Richard 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:
Richard Lorenc, Executive Vice President
Foundation for Economic Education
1819 Peachtree Road NE
Atlanta, GA 30309
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, questions about the QCD and other planned giving vehicles, please contact Executive Vice President Richard Lorenc by emailing [email protected] or calling (404) 554-9980.
Frequently Asked Questions About Qualified Charitable Distributions
Does a QCD count toward my minimum required distribution for the year?
Is a QCD reportable as income?
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 an in-kind gift. Non-cash gift examples are airline tickets, food and beverages, books, design and printing services, advertising space, etc. Additionally, vehicles may also be donated depending on the specific circumstances, such as the vehicle's location and operational status.
Gifts in kind to FEE are typically tax deductible under state and federal laws and, in most circumstances, you will determine the dollar value of your in-kind donation. Please call Richard Lorenc at 404-554-9980 or email him at [email protected] today to discuss your in-kind gift.
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.
If you would like to make your contribution by mail, please make checks payable to "Foundation for Economic Education" and mail to:
1819 Peachtree Road NE
Atlanta, GA 30309
If you intend for your contribution to go towards a specific project, please make such an indication when submitting your contribution.
Electronic Funds Transfers (Wire Transfers)
It is easy and secure to electronically transfer (wire) a donation to FEE. Simply contact Reid Benson to request FEE's wire transfer instructions. Reid can be contacted by calling (404) 554-9980 or emailing [email protected].
Once you have FEE's wire transfer instructions, simply contact your bank and request a transfer to the account information provided by FEE.
Please note that electronic funds transfers do not automatically include the name or contact information for the person initiating the funds transfer (i.e., the donor).
Accordingly, when wiring funds, please ask your bank to include your name with the transfer or notify Reid Benson that you are initiating a transfer. This will allow FEE to acknowledge your gift and provide you with a tax receipt for your gift.
Now it’s even easier for you to donate to the Foundation for Economic Education (FEE) using cryptocurrencies. We accept the following cryptocurrencies: Bitcoin Cash (BCH), Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Zcash (ZEC), Gemini Dollar (GUSD), Basic Attention Token (BAT), Chainlink (LINK).
Donating cryptocurrency is a non-taxable event, meaning you do not owe capital gains tax on the appreciated amount and can deduct it on your taxes. This makes Bitcoin and other cryptocurrency donations one of the most tax efficient ways to support your favorite cause. If you want to learn more about how donating crypto can lower your taxes, check out thegivingblock.com/faq. Talk to a crypto-savvy tax professional or connect with The Giving Block to get connected with one.
Your gift today of cryptocurrency allows FEE to engage and educate students around the U.S. and world with the principles of individual liberty and economic freedom.
Thank you for your support!
Donate to Foundation for Economic Education with PayPal
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:
Reid Benson- [email protected]
1819 Peachree Rd., Suite 300
Atlanta, Ga. 30309
FEE is a 501(c)(3) nonprofit educational organization, so donations made to FEE are tax-deductible to the full extent allowable by law. FEE is also proud to adhere to the strictest of standards in financial and programmatic transparency, earning the highest possible ratings from both Charity Navigator (four stars) and GuideStar (Platinum). FEE neither solicits nor receives government funds. We depend completely on the support of private foundations and individuals like you.
For more information, contact: