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Support the GSA Programs You Are Passionate

About with These Tax-Wise Tools

If you are like me, the end of the year presents a difficult June R.P. Ross Award, which supports research grants in paleon-
choice—whom should I support philanthropically, and how can tology, paleogeography, and paleobiogeography. When June
I do so in the most tax-effective manner? One method several passed, Charles decided to strengthen his commitment to GSA.
GSAF donors have chosen is charitable rollovers from tradi- He consulted his tax professional, and after determining that it
tional individual retirement accounts. Through IRA rollovers, was the best giving option for him, committed to supporting his
you can make a generous gift during your lifetime from assets fund by giving through IRA rollover contributions. Charles
that could otherwise be subject to multiple levels of taxation. believes in GSA and its mission, so he gives happily, saying,
The requirements and benefits to an IRA rollover contribution “I feel good about the way the money is being used and the work
are simple. If you are at least 70½ years of age, you can direct a it is supporting.”
transfer from your traditional IRA to the Geological Society of For those who have yet to reach 70½ there are
America Foundation. This transfer will count toward your still plenty of ways to support GSA this year end!
required minimum distribution for the calendar year. Because You can visit https://gsa-foundation.org/donate/
your funds are going from your IRA directly to GSAF, your gift to make an immediate online gift. If you are
amount can be excluded from your income for federal tax pur- shopping for the holidays, please consider using
poses. An additional benefit is the immediate and dramatic AmazonSmile and designating GSAF as the recipient—
impact you will make in the lives of students and GSA members Amazon will donate 0.5% of the price of your purchases to
through supporting the GSA programs that matter to you. GSAF. Finally, you may work for one of the thousands of com-
Of course, before pursuing this avenue of giving, you should panies who will match employees’ gifts to non-profit organiza-
consult your own professional advisors to discuss your specific tions like GSAF—contact your HR department for details about
situation, as IRS limitations may apply. their program and double your impact!
For long-time Foundation supporter Charles Ross, IRA roll- These are just some of the ways you can support the proj-
over contributions have become his preferred way to support ects you are passionate about this December. For more details
GSA—a desire he shared with his wife, June, who passed away on traditional IRA rollover contributions and related material,
in 2012. As Charles recounts, GSA had been a continual, sup- or to discover more ways that you can give, visit https://gsa
portive funding source for his and June’s work throughout their -foundation.org/ways-to-give/ or contact Clifton Cullen at
careers. In recognition of this, they started the Charles A. and +1-303-357-1007 or ccullen@geosociety.org.

Basics of IRA Charitable Rollover

Direct a Count the YOU
transfer of up Exclude the gift gift toward MAKE AN
Be 70½ years to US$100,000 amount from your required
of age or from your your income minimum IMMEDIATE
older. for federal tax IMPACT ON
IRA account purposes. distribution for
to GSAF. that year. OUR WORK.

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