development

Charitable gift provision available through Dec. 31

Now through the end of the year, there’s a tax-efficient way to give to Palmer College. Under a provision of the Pension Protection Act, if you’re at least 70-and-a-half and taking mandatory distributions from a traditional Individual Retirement Account (IRA) or from a Roth IRA, you can make a tax-free gift to the College through your IRA. This IRA charitable distribution can also satisfy all or part of your required minimum distribution for the year, if you do not want to take a distribution from your IRA.

But don’t wait. This incentive is in effect for the 2007 tax year, requiring that contributions be made by Dec. 31, 2007, with the following restrictions:

  • You must be at least 70-and-a-half years of age.
  • Total gifts from the IRA cannot exceed $100,000 for 2007.
  • You can make these IRA charitable distributions in 2007 only.
  • You must instruct your IRA account administrator to make the distribution directly to Palmer College of Chiropractic.
  • Only outright charitable gifts are eligible; life-income gifts such as charitable gift annuities do not qualify.

For more information on making an IRA charitable distribution provision, talk to a qualified financial planner. For assistance on how you can lend your support to Palmer, contact Senior Development Officer Lois Kundel toll-free at (800) 722-2586 and at the prompts press 3 and 4. Or e-mail Lois at lois.kundel@palmer.edu.

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