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
- 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
- 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