IRA Rollover Provision Reinstated
The provision exempts from taxable income any funds transferred (“rolled over”) from a Traditional or Roth Individual Retirement Account (IRA) to a charitable organization through 2009. Donors who are 70 ½ and better may have assets (up to $100,000) transferred directly to Volunteers of America by the IRA custodian. By going directly to the charity, the money is not included in the IRA owner’s income and is not taxed, preserving the full amount for charitable purposes. Transfers to Volunteers of America count towards the IRA owners required annual distribution and thereby can reduce income taxes. (Talk to your financial advisor about your situation).
To make an IRA gift simply contact the custodian or trustee of your account. Be sure to notify Volunteers of America so we may ensure proper transfer and receipting for your thoughtful contribution.
Volunteers of America EIN# 84-1590666