When Congress passed the American Taxpayer Relief Act of 2012 (ATRA), it made it possible for charitable citizens to rollover any amount of their IRA up to $100,000 and receive a tax break for their kindness. This rollover provision is likely to expire on 12/31/2013, and it may not return next year making mandatory IRA distributions taxable income once again.
By acting now, donors who are 70 1/2 or older can bless FGC or any Quaker or non-Quaker charity of their choice with any portion of their traditional or Roth IRA up to $100,000. This would be a tax-free gift (not tax deductible), and would count toward your required minimal distribution under IRS guidelines, but time is of the essence and this unique opportunity to nurture Quakerism is yours to consider.
If you have any questions, or would like help in completing a transfer of other planned gift, please call Larry Jalowiec, FGC Director of Stewardship Services, at 215-588-4203 or email@example.com. You will find two suggested letters on this page: one to direct your IRA plan administrator to make the transfer to charity and a second letter informing the charity of your gift.
Contact Larry Jalowiec, FGC Director of Stewardship Services, for assistance in making a gift to FGC or any Quaker or non-Quaker charity of their choice, at 215-588-4203 or email firstname.lastname@example.org.