CHARITABLE IRA ROLLOVER SET TO EXPIRE ON 12/31/2011

With the enactment of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010(H.R. 4853), the Charitable IRA Rollover component of the Pension Protection Act ("PPA") was extended through December 31, 2011. Your donors still have a chance to support your Nonprofit Organization directly through their Traditional IRAs.

Basic Charitable IRA Rollover facts:

• You must be at least 70 1/2 years old.
• The maximum amount transferable per individual in a calendar year is $100,000.
• Distributions count toward your required minimum distribution (RMD). If donor made the same contribution in January 2011 for the
• Distributions are excluded from federal taxable income, however, you will not receive an income tax deduction for your contribution.
• The funds must come directly from your donors’ plan administrator to your organization.
• The funds must be from a Traditional IRA.

Very important note: Please make sure that you indicate to your donors that they should discuss with their tax advisor regarding any tax consequences caused by these donations.

Should you have any questions, please contact Lior Temkin at 310-477-3924 Ext. 1489.

Resource: Sample Letter from Donor to IRA Administrator to Enact a Rollover Gift to Charity.