Contributions from charitable IRAs retroactive to Jan. 1!
Friends,
On Dec. 16, the Senate extended charitable individual retirement accounts (IRA) legislation retroactive to Jan. 1 of this year, authorized through Dec. 31, 2014.
If you are age 70½ or older, you can make charitable gifts now using funds from your IRAs which will be free of federal income tax. Previously, you would have had to report any amount taken from your IRA as taxable income.
You may contribute funds to FOR-USA from your traditional or Roth IRA if:
- You are age 70½ or older at the time of the gift.
- You transfer any amount, up to $100,000, directly from your IRA. This opportunity applies only to IRAs and not other types of retirement plans.
- You transfer the funds outright to the Fellowship of Reconciliation-USA, Nyack, NY. The legislation does not permit direct transfers to charitable trusts, donor-advised funds, charitable gift annuities or supporting organizations.
- You make your gift by Dec. 31, 2014
Friends, if you're eligible for making this kind of gift, would you consider doing so before Dec. 31?
 FOR is the oldest interfaith peace and justice organization in the United States, and we're still at work today -- training for nonviolence, working for racial justice, and building a better tomorrow. Any amount you can donate will make a big difference in our work!
Check with your IRA administrator or your financial adviser for more information about this process. You can also contact me at jomiller@forusa.org or (845) 358-4601 ext. 29 if you have further questions.
Thank you for your consideration!
Jonette O'Kelley Miller
Development Director
Fellowship of Reconciliation
jomiller@forusa.org
(845) 358-4601 ext. 29
Images: Chris Potter, Howard Lake (Flickr Creative Commons); cover to long-time FOR editor and staff person Richard Deats' book on active nonviolence. |
