A Gift of Retirement Assets – Reduce Taxable Income, Now or Later

Retirement Assets – Create a meaningful legacy through a tax-savvy use of retirement assets, now or in the future.

Retirement assets (IRAs, 401(k), TIAA-CREF or 403(b) plans) can be a tax-efficient way to support Meher Mount. There are two options — a future planned gift and/or a donation now.

Benefits

• Retirement savings may be a large portion of your estate. However, these assets are subject to income tax and possibly estate tax.

• Funding charitable gifts with retirement assets lets you minimize taxes and maximize your charitable impact while leaving other less-taxed assets of your estate to your heirs.

• The gift of a retirement asset does not require creating or changing your will. Just obtain a beneficiary designation form from your retirement plan administrator. You can name Meher Mount as (a) the entire beneficiary; or (b) partial beneficiary; or (c) successor beneficiary of the retirement plan.

• 100% of the amount given to charity is tax-free to you.

A Future Planned Gift of Retirement Assets

To designate Meher Mount as a beneficiary of your retirement plan. Contact your plan administrator to obtain a beneficiary designation form. Here’s the information you need to know:

Beneficiary Legal Name: Meher Mount Corporation
Address: 9902 Sulphur Mountain Road, Ojai, CA 93023-9374
Telephone: 805-640-0000
Federal Tax ID: 77-0236525
Status: 501(c)3 non-profit, charitable organization
Designation: Meher Mount General Fund or the Agnes Baron Endowment for Meher Mount

Minimize Your Taxable Income Now — Make a Charitable Donation from Your IRA Today

• Starting at age 70 ½, you may make a gift of any amount, up to $100,000 ($200,000 for a couple with separate IRAs) from your IRA without paying income tax on the distributed amount.

• This gift also satisfies the annual Required Minimum Distribution (RMD) from retirement accounts. It is money the IRS requires you to withdraw, and by transferring the funds directly to Meher Mount you will not be required to pay income tax on the withdrawal.

• Funds should be transferred directly from your financial institution to Meher Mount.

• This allows you to make an additional tax-free gift, even when you have maximized your charitable deductions for the year.

• You may not receive goods or services in exchange for this gift.

To make an IRA charitable contribution today, contact your plan administrator to obtain a distribution form and name Meher Mount as the recipient. Here’s the information you need:

Legal Name: Meher Mount Corporation, a non-for-profit 501(c)3 organization
Address: 9902 Sulphur Mountain Road, Ojai, CA 93023-9374
Telephone: 805-640-0000
Federal Tax ID: 77-0236525
Status: 501(c)3 non-profit, charitable organization

Some administrators may not provide all the required information with an IRA distribution. Email or call Robert Turnage, Meher Mount’s Treasurer, with the name of your financial institution and the amount of your gift and its purpose. You will receive a thank you and acknowledgement for your generosity.

Consult Your Personal Advisors

The information provided above is not to be construed as tax, accounting or legal advice and could change as tax laws change. You are advised to consult with your legal advisor, tax advisor, or professional estate planner to determine which options are best suited to your individual situation.

Share Your Plans to ensure your legacy

If you have already included Meher Mount in your plans (or you intend to), please let us know. Meher Mount can provide you and your advisor(s) with any needed information.  We will make sure your gift is used exactly as you wish.  And we would like to personally acknowledge your thoughtfulness and generosity.

Questions or Need More Information? Use This Form.

Conversations with Meher Mount’s planned giving team are always confidential and never imply an obligation.