IRA Contributions
Congress has extended the ability to make a charitable contribution from your IRA completely tax-free through 2011, providing a wonderful opportunity to support your Reno Philharmonic.
The charitable IRA distribution, allows taxpayers who are 70 1/2 or older to make tax-free distributions of up to $100,000 per year from a Traditional IRA or Roth IRA directly to charity. It was originally effective for 2006 and 2007 and then twice extended through 2009 and has once again been extended through the end of 2011.
Here are the basic rules governing charitable distributions:
-You must be 70 1/2 years of age.
-Tax benefits apply for distributions up to $100,000 per person.
-You can make IRA charitable distributions through December 31, 2011.
-You can use your IRA charitable distribution to make your annual gift or fulfill your current pledge.
Here’s How:
-Instruct your IRA administrator to make a direct distribution to the Reno Philharmonic Association.
-Instruct the administrator to send the distribution check to the following address:
Reno Philharmonic Association
925 Riverside Dr., #3
Reno, NV 89503
-Instruct the administrator to identify you as the IRA account owner/donor by including your name and address on its cover letter.
Please consider consulting with your financial planner about how you can meet both your financial and your philanthropic goals.
Further questions, please contact Jane Raley Development Director at 775-323-6393 x 105
