 The IRA Charitable Rollover is back!
Congress recent revival of the IRA Charitable Rollover for 2008 and 2009 is great news for persons age 70 ½ or older who would like to support Appalachian State University while satisfying the minimum IRA distribution requirement.
Here’s how it works:
- You authorize a distribution from your IRA directly to a qualified charity, such as Appalachian State University Foundation, Inc. [Note: Other pension plans and 401(k) plans are not eligible]
- Only the IRA Custodian can transfer the gift, so don’t withdraw the funds and make the transfer yourself.
- Funds distributed through your IRA count toward your required minimum distribution (RMD) for the current tax year, but are excluded from your gross income for federal tax purposes.
- Every person age 70 1/2 or older can transfer up to $100,000 to charity per year through their IRA plans.
- Although there is no tax deduction associated with an IRA Rollover distribution, you will still reduce your your taxable income by the amount of the gift, whether or not you itemize on your taxes, AND
- Best of all, you make an important impact at Appalachian today. You can even use the IRA Charitable Rollover to fulfill an outstanding pledge commitment.
We can help with the details.
Contact Tricia Wilson, Director of Gift Planning at Appalachian State University at 828-262-4023 or by e-mail at wilsonpl@appstate.edu. |
Donors can…
… make gifts by check or credit card
… contribute in-kind gifts such as antique furnishings, works of art, books and manuscripts
… take advantage of tax savings by giving appreciated stocks, shares of mutual funds or real estate
… incorporate gifts into their financial and estate planning
Give Now
Use your credit card to contribute to Appalachian State University excellence through a secure online transaction.
Give for Tomorrow
Plan for future giving with bequests, retirement plan gifts, life insurance or other contributions made through estate planning.
