Charitable Giving Through Your IRA

You worked hard and planned for retirement. Now, you can leverage your retirement assets to benefit you and your family, reduce your tax burden, and support CBF’s mission.

Watch our Maryland Tax Smart Giving webinar with financial experts to explore the benefits of giving through donor advised funds (DAFs), IRAs, wills, and more. (Some content is specific to MD tax laws, please contact Member Relations at [email protected] or 443-482-2189 if you have any questions.)

CBF supporters age 70½+ are choosing to support our mission today, conserve their cash assets, and reduce their taxable income by initiating Qualified Charitable Distributions (QCD). When you send your annual or special year-end gift to CBF directly from your Individual Retirement Account (IRA) through a QCD, you exclude the gift amount from your taxable income and enjoy valuable tax savings. (In a normal year, these gifts also satisfy your required minimum distribution, but in 2020 the CARES Act has waived RMDs for IRAs and retirement plans.)

CBF supporters of all ages are also choosing to name CBF a full or partial beneficiary of their IRA, 401(k), 403(b), and other qualified retirement plans. Leaving retirement assets to family can significantly increase their tax burden, but CBF does not pay tax on these gifts, and can put every dollar to work protecting the Bay’s future.

To initiate a current or future gift to CBF through your retirement account, contact your plan administrator today. Have the following information available:

Chesapeake Bay Foundation
6 Herndon Avenue
Annapolis, MD 21403

Tax ID# 52-6065757

For more information on how to use your IRA to help protect the Bay and its rivers and streams, contact Member Relations at [email protected] or 443-482-2189 with any questions.

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