The IRA Charitable Rollover Extension

The IRA Charitable Rollover, which specifies the tax-free treatment of qualified charitable distributions, has been extended to December 31, 2011. A gift from your IRA is possible if it is:

• made to a qualified charitable organization such as Mass Audubon
• made on or after the date you as the IRA owner attains the age of 70 1/2.
• from your Individual Retirement Account or Roth IRA.
• limited to $100,000 per year.
• made directly from your IRA account
• to complete an outright gift (not to fund a life income gift, such as a Gift Annuity)

The transferred amount will be excluded from your IRA taxable income and can count towards the minimum required distribution in each of those two years. Although you will not receive an income tax deduction for the transfer, you will not have to pay any income taxes on the amount transferred to charity. This proved to be a very helpful manner of giving for many people in recent years, and it is wonderful to see that Congress and the President decided to offer this opportunity as a means for people to support their favorite charity again.

For information regarding how to complete this gift arrangement, please contact: the Development Office, 208 South Great Road, Lincoln, MA 01773; development@massaudubon.org, or 781-259-2123.