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PHILANTHROPY TOP 5

    Top 5 Reasons Why People Give
  1. Because they are asked
  2. Compassion for those in need
  3. Personally believe in the cause
  4. Affected by the cause
  5. Give back to the community 

    Source: National Philanthropic Trust

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Breaking News: IRA Rollover Extended through December 2009!

The recently signed $700 billion economic bailout bill (H.R. 1424, The Financial Rescue Package), includes a two-year extension of the IRA Rollover provision.

The provision will be made retroactive to January 1, 2008, and will apply to gifts made from that date through December 31, 2009.

The special legislation allows you to make charitable gifts directly ("rolled over") from a traditional or Roth Individual Retirement Account (IRA) without incurring federal income taxes.  The following limitations apply:

  • The donor must be age 70 1/2 or older.
  • The cap on annual IRA rollovers is $100,000.
  • The contribution must be a direct gift to a charity (no planned gifts.) 

The IRA Rollover was originally included in the Pension Protection Act of 2006.

NPT Creates Special Funds to Accept Tax-Free IRA Gifts

National Philanthropic Trust has created four (4) field of interest funds that can receive direct contributions from an IRA.  By leveraging the charitable contributions of many donors, NPT will support creative and effective organizations identified by our grantmaking professionals and leading experts to address critical needs in our communities.

How do I know if an IRA charitable rollover is right for me?

  • You are at least age 70˝, AND
  • You do not need the additional income generated by the minimum required distribution, OR
  • Your charitable gifts already equal 50% of your adjusted gross income, so you do not benefit from an income tax charitable deduction for additional gifts, OR
  • You are subject to the 2% rule that reduces your itemized deductions, OR
  • You do not itemize deductions.

How do I initiate an IRA charitable rollover?

Download our IRA Charitable Rollover Kit which includes all the necessary documents and information for you to make a contribution.  

For more information, contact Don Gottesman, Asst. Vice President, Gift Planning, toll-free (888) 878-7900.