Tax Law Change To Benefit Donors

ATTENTION: PRESIDENT Obama signed into law an IRA CHARITABLE ROLLOVER EXTENSION FOR 2014

On December 19, President Obama signed the IRA charitable rollover into law for 2014. This law allows individuals 70 1/2 years of age and older to transfer up to $100,000 from their individual retirement accounts (IRA) to a qualified charitable organization without being subject to income taxes on their distribution during 2014.

Requirements and restrictions for making an IRA charitable rollover gift:

+ Donors must be 70 ½ years of age or older.
+ Donors can transfer up to $100,000 from their IRAs directly to a qualified charity.
+ Donors pay no income taxes on the gift. The transfer generates neither taxable income nor a tax deduction, so donors benefit even if they do not itemize their tax deductions.
+ The gift can satisfy all or part of donors’ required minimum distributions for the year.
+ If donors made a gift of up to $100,000 from their IRAs anytime in 2014, the gift will qualify under the law.

Donors who have not yet made such a gift but would like to take advantage of this opportunity to support St. Anthony Shrine & Ministry Center, must contact their IRA administrators right away. Gifts must be made by Dec. 31, 2014. Please contact Maryanne Rooney-Hegan, Director of Development, with any questions.

Making a Gift

Please contact our IRA plan administrator promptly to direct a charitable distribution to St. Anthony Shrine & Ministry Center. The deadline is December 31, for the 2014 tax year.

Checks should be sent to:
St. Anthony Shrine & Ministry Center
Development Office
100 Arch Street
Boston, MA 02110 
617- 542-6440 – Extension 115
 

Thank you for making a difference in the lives of all those whom we serve.