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The extension of provisions in the Pension Protection
Act of 2006 that allow those over 70½ to make direct
transfers of up to $100,000 from traditional and Roth
IRAs to qualified charities is currently scheduled to
expire on December 31. Unless Congress acts to
extend or expand this provision, nonprofit organizations
will have only a few months left to promote IRA
gifts with this special incentive.
Many donors have already taken advantage
of this opportunity. In its annual report released in
June 2009, Giving USA estimates between $600 million
and $1.2 billion in IRA transfers to charity were
made in 2008.
Remind the newcomers
Those organizations interested in receiving IRA gifts should consider
encouraging the appropriate donors to make such gifts before the end
of the year. Among the best prospects for IRA gifts are those who have
turned 70½ since 2006, those over 70˝ who have made relatively larger
gifts (perhaps $500 or more) in the past, and those who have made a previous
IRA gift.
To get the word out, consider sending donors “The Charitable
IRA,”
a six-panel brochure designed to inform donors of this opportunity. In
addition to an overview of the special temporary incentive, the brochure
includes a section entitled “Could You Benefit?” that provides donors with
representative examples of IRA gifts.
To view this brochure or place an order, visit www.sharpenet.com/pubs.
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