Pension Protection Act Allows IRA Rollovers to Charity
A special gift opportunity has just been made available to you thanks to Congress and the passing of H.R. 4 (IRA Rollover Bill). You can now make a direct transfer from your IRA to a qualified charity, such as Nevus Outreach, to help further our mission. These qualified gifts, up to $100,000 are direct transfers from your IRA to the charity and are excluded from your gross income. Time is critical, however, because this provision is only effective through December of 2007!
What is required?
- You must be at least 70 ¬Ω years of age.
- Distributions may not exceed $100,000 per year.
- Gifts must be made directly to the charity from your IRA trustee/administrator.
- A charity must be considered a qualified charity, no donor advised funds or supporting organizations. (Nevus Outreach qualifies!)
Benefits to You.
- Use your required minimum distribution to fund your giving without increasing your taxable income.
- Reduce your social security wage base by transferring gifts directly from your IRA to a qualified charity.
- Consider making a transfer from your IRA to charity to reduce the phase-out of itemized deductions.
For more information contact Nevus Outreach Director of Development Megan Fields at .
