With the GiveDirect credit card processing, a low 4% service fee is taken on your Credit Card donation. Your Tailhook Educational Foundation receives the other 96% of your gift. You can also opt to pay the service fee yourself.
The HOOK A SCHOLAR button allows members to make automatic recurring donations. Be sure to select the “recurring donation” option under Donation Preferences.
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Tailhook Educational Foundation
A Qualified Charitable Distribution (QCD) is a direct transfer of funds from your IRA custodian, payable to a qualified charity such as our Foundation. QCDs can be counted toward satisfying your required minimum distributions (RMDs) for the year, as long as certain rules are met.
In addition to the benefits of giving to charity, a QCD excludes the amount donated from taxable income, which is unlike regular withdrawals from an IRA. Keeping your taxable income lower may reduce the impact to certain tax credits and deductions, including Social Security and Medicare.
The maximum annual amount that can qualify for a QCD is $100,000 and you must be 70½ or older to be eligible to make a QCD.
While many IRAs are eligible for QCD's - Traditional, Rollover, Inherited, SEP (inactive plans only), and SIMPLE (inactive plans only)* there are requirements:
You must be 70½ or older to be eligible to make a QCD.
QCDs are limited to the amount that would otherwise be taxed as ordinary income. This excludes non-deductible contributions.
The maximum annual amount that can qualify for a QCD is $100,000. This applies to the sum of QCDs made to one or more charities in a calendar year. (If, however, you file taxes jointly, your spouse can also make a QCD from his or her own IRA within the same tax year for up to $100,000.)
For a QCD to count towards your current year's RMD, the funds must come out of your IRA by your RMD deadline, generally December 31.
Tailhook Educational Foundation is a charitable nonprofit California corporation created in February 1992. The Foundation's charter is "to educate the nation's public with regard to the history and present day activities of the United States Navy carrier aviation and its importance to our country's national security." The main activities of the Foundation are:
To provide scholarships
to qualified applicants
To distribute The Hook magazine to schools throughout the nation at no cost to the schools
To be eligible for consideration for a Tailhook Educational Foundation scholarship, an individual must be a high school graduate and the natural, step, or adopted son, daughter or grandchild of a current or former (U.S. Navy / U.S. Marine Corps / U.S. Coast Guard) Naval Aviator, Naval Flight Officer, or Naval Aircrewman. Also eligible are individuals or children/grandchildren of individuals who are serving or have served on board a U.S. Navy Aircraft Carrier in ship's company or an embarked staff. Eligible applicants must be accepted for undergraduate enrollment at an accredited college.
Applications will be available on 15 December and due back at the Tailhook Educational Foundation headquarters by 1 March 2017.
All donations to the Tailhook Educational Foundation are fully deductible as charitable contributions.
The Foundation scholarship program has awarded over 100 scholarships annually over the past few years. These grants assist the children, grandchildren of former and current aviators and carrier based crewmembers, as well as former enlisted personnel studying in the many fields of undergraduate higher education.
As part of our ongoing educational program, we send over 1000 quarterly copies of the “The Hook” magazine to High schools and colleges throughout the United States. Many of these magazines go to NROTC and NJROTC units and they are paid for by your Tailhook Educational Foundation.
We need your help to expand the distribution of the Hook magazine to more high schools and colleges. Please visit the Hook to School Link and support a high school or college in your area or leave it to the Tailhook Educational Foundation staff to assign your support to a school in a remote area.