About UGF

Utah Geological Foundation

Supporting geoscience scholarships and public outreach in Utah and the Intermountain West

Donations

Please consider making a tax-deductible donation. For a limited time, all contributions to the foundation will be matched two to one with contributions from UGA funds. Furthermore, through December 31, 2023 all persons donating $1,000 or more will become permanent members of the Foundation's Founders' Circle.

Click HERE to make an online donation to the UGF!

You can also donate by check. Checks should be made out to and mailed to:

About the Foundation

For many decades the Utah Geological Association (UGA) has occasionally co-hosted the annual convention of the American Association of Petroleum Geologists (AAPG). Income from the conventions permitted the UGA to support a generous scholarship program for Geology majors in Utah universities and colleges, a Teacher of the Year award, geologic publications, placement of geology interpretative signage on public highways, and other charitable activities. Recently the AAPG announced that, as a cost-cutting measure, it would no longer hold its annual convention in Salt Lake City. Rather than see the eventual end to the UGA's scholarship awards and public outreach, a group of longstanding UGA members and former officers created the Utah Geological Foundation (UGF), an IRS 501(c)(3) charitable entity (allows tax-deductible donations).  UGF's mission is to raise funds and build an endowment to support these charitable activities long into the future. All contributions will be acknowledged in writing. Our Federal Tax ID number is 87-3778675.

 Board

• Paul Anderson (President)
• Grant Willis (Treasurer)
• Elise Erler (Secretary)
• Marjorie Chan
• Leslie Heppler
• Eugene Szymanski (Ex Officio - UGA President)

Ways to Donate

Making a Qualified Charitable Distribution (QCD) as part of a RMD from an IRA-type* account and U.S. tax benefits – General Information only (not tax advice)             [*IRA, SEP, 401(k), 403(b), 457]

1. How does it work?

The provision in the U.S. tax law, referred to as a Qualified Charitable Distribution (QCD), allows retirees who have reached the age when you must begin to take money from these tax deferred (IRA-type) accounts (“IRA”), to donate up to $100,000 tax free from their IRA-type account(s) each year.

Generally, when you take a distribution from your IRA, the distribution is treated as taxable income. A provision in the 2015 tax package excludes your IRA distribution from taxable income if the distribution is made directly from the IRA to a charity(ies).  A QCD is not included as income to you but qualifies as part of an annual Required Minimum Distributions (RMD). QCDs are equivalent to a 100% deduction. Normally, charitable contribution deductions are limited to a lower percentage (or are eliminated altogether) for taxpayers who do not itemize and take the standard deduction.

2. Turn all or part of your required distributions into tax-free charitable giving

IRS rules mandate that individuals age 73 and older take RMDs from their IRA each year. These annual withdrawals are subject to ordinary U.S. income taxes. By making a charitable contribution (QCD) directly from your IRA, you may be able to satisfy all or part of your RMD amount without reporting additional income.

This provision may be especially helpful for retirees who don’t need all the RMD income from their IRA. By donating the money to charity (preferably UGF), you can enjoy the satisfaction of knowing that you are contributing to helping support geoscience students while effectively lowering your Federal tax bill.

3. Additional Considerations

Generally, in order to claim a charitable deduction, you must itemize your Federal tax return. For retirees who have lost many deductions (e.g., house mortgage payment), their deductions may be too small to itemize (not to mention the hassle). The QCD offers the tax benefits of a charitable contribution without you itemizing. Recent tax law changes nearly double the standard deduction, which will result in fewer taxpayers itemizing deductions and more opting to claim the standard deduction.  The tax benefits of donations may be higher using a QCD.

Additional income on your Form 1040 may increase your Medicare Part B premiums and/or negatively affect the taxability of your Social Security benefits. Making a QCD from your IRA under this situation may be helpful.

You can verify that the Utah Geological Foundation (UGF EIN: 87-3778675) is an IRS 501c3 charitable organization at: Tax Exempt Organization Search | Internal Revenue Service (irs.gov).

Talk with your tax consultant and your IRA financial institution for details about making a QCD. This information about QCDs is not meant to be tax advice.