IRA Charitable Rollovers

The recently passed Tax Relief Law extends the IRA Charitable Rollover through 2011—and gives individuals until January 31, 2011 to make a retroactive donation for 2010.

Before we go any further, contributions to a donor-advised fund do NOT qualify.

Late on Friday, December 17, President Obama signed into law the “Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010” (H.R. 4853), which contains provisions for extending the IRA Charitable Rollover through 2011. It permits individuals age 70 ½ and older to make tax-free distributions from their IRAs of up to $100,000 per taxpayer per year to public charities.

You have several options:

• You can contribute to The Trust’s Critical Needs Fund, which, as the name implies, makes immediate grants for basic, urgent needs, such as food and housing.
• You can donate to any public charity that you care about.

Please contact Bob Edgar, vice president of donor relations at (212) 686 - 0010 x 373, or Gay Young, vice president of donor services at (212) 686 - 0010 x 377 if you have any questions or need assistance. They will be happy to help.