Charitable IRA Rollover

Some of our donors have established a donor-advised charitable fund (Fidelity Charitable ®, Vanguard Charitable ®, Schwab Charitable ® or other) and have a strong desire to support the Center through an annual gift and/or a legacy gift.

You can direct that your donor-advised charitable fund be distributed, in full, to the Center after your lifetime. Or, you can name specific charities and choose a dollar or percentage amount to be distributed over a certain time or until the account balance becomes zero.

To talk with us about creating a better world for future generations of LGBT people, please contact Nellie A. Sims, J.D., Director of Planned Giving, at 1-323-993-7606 or nsims@lalgbtcenter.org.

When you create your legacy gift with a charitable IRA rollover, you receive tax advantages, and you help LGBT individuals and families for years to come.

Benefits include:

  • Avoid paying tax on your required minimum distribution* this year. The distribution will not count as taxable income for this year, helping keep you in a lower tax bracket.
  • The transfer is not subject to limitations on itemized deductions.
  • Enjoy a quick and easy estate tax reduction.

To qualify:

  • You must be 70 ½ years old or older by year-end
  • The distribution must be directly to the Center from your plan trustee
  • The maximum contribution amount each year is $100,000 ($200,000 per couple)
  • Your transfer must be received by the last day of the calendar year

If you’re interested in this popular way to support the Center, download a sample letter for your IRA administrator here.

* Congress has waived the annual Required Minimum Distribution from IRA Accounts in the year 2020 as part of the CARES Act in response to COVID-19. Please consider seeking advice from your financial advisor or tax professional to understand how recent changes to laws governing retirement plans may impact you and your charitable gift.

To talk with us about creating a better world for future generations of LGBT people, please contact Nellie A. Sims, J.D., Director of Planned Giving, at 1-323-993-7606 or nsims@lalgbtcenter.org.

You can make a significant gift for the Center without touching your bank account. With a gift of real estate, you can help create a welcome world for LGBT people everywhere, enjoy tax benefits, capital gains taxes, and you avoid the hassle of selling the real estate yourself.

There are seven types of real estate gifts:

  • Outright gift. When you give real estate that you have owned longer than one year, you get a federal income tax charitable deduction equal to the property’s fair market value. This deduction reduces the cost of making the gift and frees up cash that would be used to pay taxes. You eliminate capital gains tax. You avoid gift tax on the transfer. The gift also reduces your future taxable estate.
  • Gift in your will or living trust. This gift of real estate gives you the flexibility to change your mind at any time and to give a larger gift than you may be able to during your lifetime.
  • Retained life estate. You can transfer your personal residence to the Center but retain the right to occupy or rent the home for the rest of your life. You receive an immediate federal income tax charitable deduction for a portion of your home’s value.
  • Bargain sale. To fund this gift, you sell your property for less than market value, and the difference between the actual value and the sale price is the gift for the Center. This is the only gift that provides you with a lump sum of cash and a charitable deduction.
  • Charitable remainder unitrust. You can contribute any appreciated real estate you’ve owned for more than one year, provided it’s not mortgaged, and receive an income stream for life or a term of up to 20 years.
  • Charitable lead trust. With this gift, you can transfer to your family tax free, real estate that has the potential to grow.
  • Memorial or endowed gift. This is a great way to honor a loved one. When you make an endowed gift of real estate, your contribution becomes part of our endowment.

To talk with us about creating a better world for future generations of LGBT people, please contact Nellie A. Sims, J.D., Director of Planned Giving, at 1-323-993-7606 or nsims@lalgbtcenter.org.

You can honor a loved one in a truly special way by establishing a memorial or tribute gift with the Center. This will be a lasting tribute to someone who means a lot to you, and it will connect you with your loved one for years to come as your gift works to create a better world for LGBT people everywhere.

To talk with us about creating a better world for future generations of LGBT people, please contact Nellie A. Sims, J.D., Director of Planned Giving, at 1-323-993-7606 or nsims@lalgbtcenter.org.

An endowment is a gift of money or property that will support the work of the Center for years to come. This kind of gift will have an impact over a longer period of time, because the principal is kept intact while the investment income is used for ongoing programs and services. There are various types of endowments that you can set up. Maybe this kind of gift is right for you.

To talk with us about creating a better world for future generations of LGBT people, please contact Nellie A. Sims, J.D., Director of Planned Giving, at 1-323-993-7606 or nsims@lalgbtcenter.org.