Update for Donors from the Kalamazoo Community Foundation: Charitable IRA Rollover
Posted December 23, 2010
Last week, President Obama signed into law the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (H.R. 4853), which includes an extension of the Qualified Charitable Distribution (QCD) from an IRA, also known as the Charitable IRA Rollover. The law extension presents a tremendous opportunity for both your organization and your donors who qualify.
- The new law is retroactive to January 1, 2010 and extends through December 31, 2011.
- Individuals, age70½ and older, may donate up to $100,000 from their IRAs to charities tax-free.
- Because Congress recognized that this law passed so late in the year, individuals who choose to make a QCD from an IRA may make their 2010 distribution any time during 2010 or through January of 2011.
- Individuals may make a distribution from a regular or Roth IRA to a public charity for a qualified charitable purpose, including the fund designated for your organization at the Kalamazoo Community Foundation.
- We can process the transfer from the IRA Custodian directly to the fund, receipt the donor, and notify you of the gift.
Please contact any member of our donor relations team if you would like more information on the IRA Rollover or if you would like material to help you share this opportunity with your donors. We can all be reached at 381-4416 or via the emails listed below.
Donor Relations Team
Ann Fergemann afergemann@kalfound.org
Carol Carter ccarter@kalfound.org
Coby Chalmers cchalmers@kalfound.org
Jeanne Grubb jgrubb@kalfound.org
Joanna Dales jdales@kalfound.org