Pension Protection Act Offer Tax Savings Opportunities for Charitable Gifts from IRA - Ursuline High School

The United State Congress enacted a permanent extension of the IRA charitable rollover. Therefore, individuals age 70 ½ or older can make gifts directly through a qualified charitable distribution (QCD) from their IRA to charity. This makes it possible to give a sizable gift to any charity, including Ursuline High School, and donors will not be taxed. Professional tax service accountants have provided us with the following information.

If you are at least 70 ½ and are considering making a charitable gift, you may want to consider transferring a portion of your IRA’s required annual distribution to charity. There are many benefits.
• You may avoid taxes on a transfer of up to $100,000 from your IRA to our organization and satisfy your required minimum distribution (RMD) for the year.
• You may reduce your taxable income even if you do not itemize deductions.
• You may make a gift that is not subject to the 50 % deduction limits on charitable gifts.

If you have any questions, you may call the Office of Alumni and Advancement at 330.744.4563, ext. 125. We can assist you in facilitating your QCD now or anytime throughout the year. Would you consider helping your Alma Mater further our mission with the IRA Charitable Rollover? Thank you.

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