A charitable gift through your retirement assets is a versatile way to support ATHS during, and after your lifetime.

Estate Planning Essentials

Legal Name: American Truck Historical Society
Employer Identification Number (EIN): 23-7152672
National Address: 10380 N. Ambassador Dr, Ste 101, Kansas City, MO 64153

---

Beneficiary Designations

PLan My Beneficiaries

Perhaps the simplest way to support ATHS with a future gift is by naming the organization as a beneficiary of your retirement account(s). Just consult your advisor, complete and sign the forms, and keep a copy with your valuable papers. The flexibility of beneficiary designations means that you aren’t locked into the choices you make today. You can review and adjust beneficiary designations anytime you want.

Example: Bill wants to provide for his children, but he also wishes to leave a charitable gift to the American Truck Historical Society. Bill decides to pass on income tax-free inheritances such as real estate, cash, and life insurance to his heirs, and give his retirement plan assets in support of the American Truck Historical Society. The assets in his account will pass to the American Truck Historical Society free of any income tax obligation. In addition, Bill’s gift qualifies for an estate tax charitable deduction. Most important, Bill can change his mind at any time about the gift.

Tax-Free Distributions

If you are 70 ½ or older, you can make a tax-free distribution from your IRA to the American Truck Historical Society. These “Qualified Charitable Distributions” (QCD) allow individuals to donate up to $100,000 each year without incurring income tax on that amount of their withdrawal.  It’s an efficient way to support ATHS and can help individuals save significant taxes.

To qualify as a tax-free distribution:

• Donors have to be 70 ½ or older to make “tax-free” donations through their IRA or Roth IRA. The donation is “tax-free” because your required minimum distribution would be taxed as ordinary income if it weren’t donated.
• The qualified charitable distribution (QCD) can be as much as a $100,000 per year. You can choose to give more than $100,000 per year from your IRA, but anything beyond that amount is subject to ordinary income tax.
• The donation must be made directly from the custodian of your IRA to the American Truck Historical Society.
• You cannot itemize the gift as a donation when filing your taxes, that would be essentially double counting the donation.
• The donation must be cashed (not just received) by the American Truck Historical Society in the calendar year to satisfy your required minimum distribution.
• You cannot receive any goods or services in exchange for the QCD portion of your IRA donation.

Please consult your professional tax advisor before contributing through your retirement account.