Donating part or all of your unused retirement assets, such as your IRA, 401(k), 403(b), pension or other tax-deferred plan, is an excellent way to make a gift to the Open Land Trust.
Make a meaningful gift with your retirement assets
Your retirement assets—like an IRA, 401(k), 403(b), or other tax-deferred account—can help protect the Lowcountry’s treasured landscapes for generations to come.
There are two simple, tax-smart ways to give from your retirement assets:
1. Make a gift today with a Qualified Charitable Distribution (QCD)
If you’re age 70½ or older, you can give up to $100,000 per year directly from your IRA to the Open Land Trust through a Qualified Charitable Distribution (QCD).
This gift:
- Can reduce your taxable income
- Allows you to support local land conservation today
- May satisfy part or all of your Required Minimum Distribution (RMD) once you reach the age when RMDs are required
Starting in 2023, the IRS requires that most people begin taking RMDs at age 73 (previously 72). RMDs must be reported as taxable income unless you direct them to charity as a QCD.
So even if you’re not yet required to take RMDs, you can start making QCD gifts as soon as you turn 70½—a smart way to give tax-efficiently before RMDs begin.
2. Leave a legacy by naming Open Land Trust as a beneficiary
You can name Open Land Trust as a beneficiary of your IRA or other retirement plan, leaving a lasting legacy for land conservation. Simply request a beneficiary designation form from your plan administrator and list:
• Beaufort County Open Land Trust
• Tax ID Number: 23-7114992
• Mailing Address: P.O. Box 75, Beaufort, SC 29901
Because retirement accounts left to charity avoid both income and estate taxes, your gift can go farther to protect the special places you love.
We’re here to help
If you have questions or would like assistance, contact Kristin Williams, Executive Director, kristin@openlandtrust.org or 843-521-2175.