NATS philanthropic work got a holiday boost from its most successful GivingTuesday campaign ever, Keep Our Students Singing.
With a push from local chapters and regions leveraging the GivingTuesday opportunity, NATS members contributed or raised $38,000, which is 56% more than last year and 435% more than 2020. More than half the money raised in November came from donors who were not NATS members.
NATS is on track in 2022 for 90% year-over-year growth in charitable donations.
Programmatic highlights from this growth include the first four Texoma High School Vocal Music Fellows now actively studying with NATS teachers, a new award for Emerging Teaching Artists created by Barbara Hill Moore, and funding for a second year of grants for the NATS Intern Program — established by the 2021 master teachers.
If you were planning to give during GivingTuesday but have not, it is never too late. All chapter, region, and national donation forms are active, or you can make a gift when you renew your membership. NATS is a qualified charity that you may give to and deduct your gift for tax purposes.
Give to NATS with our easy form that allows you to direct your gift in support of your programmatic priorities.
Over 70 ½? Gifts from Your IRA (QCD, or Qualified Charitable Distribution)
Giving to NATS through your IRA might be to your advantage.
Traditional IRAs require you to take “Required Minimum Distributions” once you reach age 70.5. Because you did not pay federal income tax when you contributed the money to your account, you pay taxes when you withdraw it. However, you can avoid the tax on that distribution by donating directly from your IRA to a charity. This is called an IRA charitable rollover or a qualified charitable distribution (QCD).
A QCD is a direct transfer of funds up to $100,000 from your IRA trustee to a qualified charity. If a distribution check is made payable to you, the distribution would be treated as taxable income.
Making a distribution is an easy process. Simply contact your plan administrator and tell them you would like to make a charitable donation from your IRA. Typically, they will supply you with a distribution form for you to fill out and return.
At the end of the year, the administrator will provide you with a Form 1099-R so you can report it on your taxes. The distribution will go on your Form 1040 tax return, where you will report the distribution as a non-taxed QCD. See the Form 1040 instructions or contact your tax professional for additional information.
This rollover is an attractive option for taxpayers who either don’t want or need the extra taxable income from their IRA’s required minimum distribution.
Consult your investment advisor about a decision to make a rollover gift.
Contact your IRA custodian and request a direct transfer to:
National Association of Teachers of Singing, Inc.
9957 Moorings Drive, Suite 401
Jacksonville, FL 32257-2416
(Tax identification number 36-6118354)
Questions? Contact Bob Bryan or call us at (904) 992-9101.