Make a Gift to Charity
IRA Charitable Rollover extended for 2008-2009

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This article was posted November 2008.

If you are 70-1/2 or older, you can use your Individual Retirement Account to make a charitable gift
to the Iowa Natural Heritage Foundation today!

For people 70-1/2 years of age or older, you can use your IRA or Roth IRA to make a tax-free gift to charity. Consider the IRA charitable rollover if you have excess IRA funds or want to lower the amount of your required minimum IRA distribution.* While there is no charitable deduction, there is also no tax when the distribution is a direct charitable rollover.

Basic Provisions

• You must be at least 70-1/2 years of age.
• Tax benefits apply for gifts that total up to $100,000 per person per year.
• You can make these IRA charitable distributions in 2008 and 2009 only.
• You must transfer funds directly from an IRA to one or more eligible charitable organizations. INHF qualifies as an eligible organization.
  

You can use your IRA to make a tax-free charitable donation for your annual contribution, a major gift or to satisfy a current pledge. Tax-free rollover gifts can be any amount up to $100,000 in both the 2008 and 2009 tax years.

If a spouse has an IRA and is 70-1/2 or older, he/she can also give up to $100,000 in 2008 and 2009.

The law applies solely to direct gifts to charity, not for planned gifts such as charitable gift annuities or charitable remainder trusts.

This is an easy way to benefit Iowa Natural Heritage Foundation without tax complications.

How to Make a Gift

1. Please contact Cheri Grauer or Anita Ogara at 1-800-475-1846 to inform us of your intent to make an IRA charitable distribution. We can then also discuss how you would like your gift to be used.
2. Contact your IRA administrator to transfer your desired amount.

Federal Tax ID #42-1127544

For More Information

Read more details provided by Independent Sector.

Contact your financial advisor about whether an IRA Rollover to INHF meets your needs.  While Iowa Natural Heritage Foundation makes every effort to give you accurate information, you should also consult your trusted professionals.

* This reinstated provision is part of the Pension Protection Act of 2006, which was included in the Financial Rescue Bill (Emergency Economic Stabilization Act of 2008, H.R. 1424), signed into law on October 3, 2008.