WHAT'S UP?

The IRA Charitable Rollover and other critical giving incentives have been extended.       

WHAT MIGHT THIS MEAN FOR YOU?

If you are 70½ or older, you can instruct the administrator of your IRA to make a direct distribution of up to $100,000 in 2011 to the Jewish Community Foundation to create or add to a restricted fund for the benefit of your favorite charity. This is a wonderful opportunity for you to support the charities you care about most. Also, if the distribution is directed to a permanent endowment fund in support of one of our local Jewish agencies or synagogues, it could qualify for the Bushman Community Endowment (BCE) initiative, an added benefit to the community.

A direct distribution (also known as a charitable rollover) counts toward your annual IRA minimum distribution requirement. To qualify, the money may not be distributed to you personally, even if you intend to immediately transfer the funds to a qualified charity such as the Jewish Community Foundation.

Unlike a cash withdrawal from your IRA, your direct distribution will be excluded from income for federal purposes and not taxed. It won't be eligible for a charitable tax deduction, but won't count toward the annual percentage limitation on your other deductible gifts either. Unfortunately, these IRA distributions can't be made to donor advised funds, supporting organizations, or life income giving vehicles.

Lynn and Andy Kaufman have been active and generous members of the community for years.  They were thrilled to be able to take advantage of the benefits offered by the charitable IRA rollover provision. Andy says, "Using your IRA to make charitable contributions is a unique opportunity.  Lynn and I made several major gifts from our IRA this year, including one to Village Shalom.  In fact, having the ability to use our IRA rather than current assets allowed us to make substantially larger contributions than we normally would have made."

CALL FOR MORE INFORMATION

If you would like more information about how you can use your IRA to help fulfill your charitable goals, please call the Foundation at (913) 327-8245.

This information is not intended, nor should it be relied upon, as legal, tax, accounting, or other professional advice. Please seek the advice of your professional advisor before you make a IRA charitable rollover gift to ensure that each gift is right for you.