Make Historic Architecture Part of Your Legacy
We want to mention a giving opportunity that could have tax benefits for you at any time of year. When you turn 72, there's a mandatory distribution requirement by the IRS for your IRA, 401(k), or other retirement account. And before age 72, minimum distributions must begin at age 70½. Very often some or all of such distributions count as taxable income.
This means that donating a portion of your total or minimum distribution may well lower your tax burden. Your donation will be used directly for projects that preserve and enhance the architectural heritage of New Bern for future generations.
If you click the link below and write us a brief note, the NBPF will make arrangements for the amount you set to be donated with full paperwork in place that the IRS will approve. We strongly recommend that you talk with a qualified enrolled agent or CPA to calculate any minimum distribution. He or she will factor in the basis of the funds, whether they've been taxed before, and the total amount in the account, which must be calculated before proceeding.