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The IRA Rollover for Charities is part of the federal legislation to rescue the nation’s financial system. The legislation allows individuals to donate up to $100,000 to charities without a tax penalty when given from the retiree’s individual retirement account (IRA).
This is great news for donors aged 70 ½, and taking minimum IRA distributions. For now it's possible to turn your IRA into charitable good through 2009, free from federal tax. In addition, gifts to endowments may be eligible for Endow Iowa, the 20% state tax credit.
The Community Foundation staff is here to help you and your clients improve the lives of others. Call us today at 588-2700 to discuss how endowed, field of interest or designated funds can make your clients' philanthropic dreams a reality.
Consult with your clients after downloading and printing these useful IRA Rollover tools:
- Is the Charitable IRA right for you?
- Make a difference with your Charitable IRA
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