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Planned Giving

Jane HofferCenter photos: Jane Hoffer

Planned Giving

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The IRA charitable rollover is back for 2012 and 2013!

Donors age 70½ or older are once again eligible to transfer up to $100,000 annually from their IRAs directly to qualified charities--including The New York Public Library--without having to pay income taxes on the funds transferred. Congress recognized the issues with a late extension and provided two special transition rules:

 
1) Qualified distributions made by February 1, 2013, may be counted retroactively for the 2012 tax year.  In other words, you may transfer up to $100,000 this month and have it count for 2012 and can still transfer up to another $100,000 in 2013.  
 
2) A taxpayer who took a distribution from an IRA in December 2012, may make a contribution to a qualified charity before February 1, 2013, and treat this as a direct transfer.  So if you took your required minimum distribution in December 2012, you may make a gift to charity this month in the same amount and exclude this amount from your 2012 gross income.  (Note, however, that this amount will reduce the total you can distribute this month and have count as a 2012 qualified transfer as noted above.)
 
The New York Public Library does not provide tax or legal advice; please consult your tax and legal advisors before making such a transfer to ensure that you follow all applicable rules and receive the most favorable tax treatment.  And thank you to all who consider making a special gift to the Library in this manner!

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Did you grow up with the Library?  Do you use your local branch or one of our world-class research libraries?  If so, help ensure that The New York Public Library remains a vital civic asset for future generations or New Yorkers by making a planned gift.  Add your legacy to those of our 19th-century founders—John Jacob Astor, James Lenox, and Samuel Tilden—and the thousands of others since whose financial support has allowed the Library to maintain its tradition of excellent and free public service.

How can you help to ensure the Library’s future?  By including the Library in your estate and financial plans in one of following ways: 

Writing My Will

Include the Library in your estate plan; it’s easy to do even if you already have a Will.

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Charitable Gift Annuity

The gift that gives back: make a meaningful gift to the Library and receive payments for life.

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Charitable Trusts

Benefit the Library and your family and other heirs in a tax-advantaged manner.

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Other Planned Gift Options

Consider leaving assets in your retirement plan, life insurance policy, and other financial accounts to the Library.  It’s a simple and tax-efficient way to fund your legacy.

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Bigelow Society

Do any of these and become a member of the Library’s Bigelow Society, giving you access to special Library events and programs.

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Contact Planned Giving Staff

We look forward to working with you as you consider your legacy for the Library.

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