IRA Charitable Rollover Extension: What You Need to Know Now
The IRA Charitable Rollover has been extended through the end of 2013!
The IRA Charitable Rollover has proven a popular way for donors to support their favorite causes, for the main reason that it enables donors to make a gift to charity from their IRA and not include the amount so distributed in their taxable income. Beyond making it easier to make gifts from their IRA, this can be advantageous to donors from a tax standpoint if:
• They do not itemize deductions,
• They pay state income tax but cannot take charitable deductions on the state return,
• They would not be able to deduct all of their charitable contributions because of deduction limitations, or
• An increase in taxable income may negatively impact their ability to use other deductions.
The extension keeps in place all of the previous requirements in order for the transfer to qualify:
• Donor must be at least 70½ years of age when the gift is made,
• Transfer must be made directly from the IRA administrator to the charity,
• The gifts from the IRA cannot exceed $100,000 per person ($200,000 for a couple) in a given year,
• They can only be outright gifts (can't fund a CGA or charitable trust),
• No goods and services can be given in exchange, and
• Cannot be made to a donor advised fund or a supporting organization.
Please contact Arlene Knox, Sr. Director of Development, at 239-489-9234 for more information about how you can help Edison State College with an IRA Charitable Rollover.
Welcome to Our Planned Giving Page!
Thank you for your interest in Planned Giving! Below are some helpful links to get you started:
Letter of Intent (click here)
Determine Your Legacy (click here)
Legal Language for Wills and Trusts (click here)
Charitable Gift Annuities (call us for more information)
Thousands of Edison State College students have benefited from the generosity of visionary donors who, after their passing, created scholarships, special funds, or gave where most needed through a bequest, trust, insurance, charitable gift annuity or other planned giving opportunity to the Edison State College Foundation.
An Edison Legacy Society member is a visionary supporter who gives quietly today, while creating a planned gift that will benefit future Edison State College students. Tomorrow's students will see further and aim higher because of the support of these key visionary donors.
For more information about becoming an Edison Legacy Society visionary, or if you've already made a commitment to support Edison State College through a planned gift, please contact Arlene Knox, Senior Director of Development at 239-489-9234. Our team can assist you in crafting a gift plan that gives you the greatest philanthropic satisfaction and meets the highest educational needs of Edison State College.
The materials contained on this website are intended only to show some ways by which you can make a charitable gift or bequest and thereby minimize federal tax liabilities, as authorized by the Internal Revenue Code. All examples are of a general nature only and should not be applied to your specific situation without first consulting your attorney or other advisers.