skip to Main Content

News Archives

New, limited-time charitable giving opportunity – please educate our community!

September 17, 2007

Make a tax-free gift to the Alzheimer's Association from your IRA

The Pension Protection Act of 2006 brings a new, limited-time charitable giving opportunity to those 70 1/2 older who want to make tax-free gifts from their tradititonal or Roth IRAs. Between now and December 31, 2007, donors have an unprecedented opportunity to help the Alzheimer's Association move its mission forward.

Basic provisions:
? Individuals aged 70? and older may transfer up to $100,000 per year directly from an IRA to the Alzheimer's Association.
? The charitable distribution counts toward your minimum required distribution (RMD) requirements.
? A couple with separate IRAs could each give up to $100,000 for a total of $200,000.
? Transfers cannot be used to establish a charitable gift annuity or a charitable remainder trust.
? It's not necessary for you to itemize deductions and the general 50 percent of adjusted gross income limitation does not apply.
? Transfers are not deductible as charitable gifts. However, there is no federal tax when the distribution is a direct charitable rollover.
? The transfer must be made directly from the IRA to the Alzheimer's Association. The specific transfer and reporting forms will be determined by each IRA custodian and the IRS.
? Transfers must be made between now and December, 31, 2007.

How to make your gift

Here's how to make your IRA charitable distribution to the Alzheimer's Association:
1) Speak with your professional tax advisor to see if an IRA charitable rollover gift meets your needs.
2) Contact your IRA custodian to obtain and fill out the necessary forms to transfer your desired amount directly to the Alzheimer's Association.
3) Contact the Alzheimer's Association toll free at 1.800.273.2555 and let us know of your incoming gift.

More information

If you would like more information about this opportunity or to discuss making an IRA charitable rollover gift to the Alzheimer's Association, please contact Melodie Turish at melodie.turish@alz.org, or by calling 1.321.777.2555.

Note: This press release provides general financial information, not to take the place of professional financial or legal advice. As with any tax strategy, please consult your professional tax advisor.

Alzheimer's Association
Melodie Turish
3217772555