POSTED BY ELLIOT LEVIN
Elliot Levin, PRG, San Rafael office
The Protecting Americans from Tax Hikes Act (PATH) is now permanent. This means at age 70 ½ donors can make charitable contributions of up to $100,000 directly from their IRAs each year.
An IRA-funded gift is excluded from the donor’s income and therefore not taxable. That’s right, a 100% deduction. It’s also significant because at age 70 ½ one must take a required minimum distribution from an IRA. Your donors may want to make a gift rather than show income that might affect their Social Security benefits or other assets.
Of course, there are numerous details in this provision, not all IRA plans qualify, and PRG does not dispense tax advice. Here’s a great overview that explains the benefits and requirements.
We encourage you to learn more. And, especially, take the time now to spread the word to your qualifying donors so they can take advantage of this important opportunity in 2016 and every year!
As always, we love hearing from you. Let us know if this has been helpful.
New Staff, Expanded Services
PRG is very pleased to welcome Melissa Irish to the PRG team as a new managing associate. She comes to us with over 20 years experience raising private sector funds for regional and national organizations, and is helping set a path for the firm’s continued growth and impact.
Moving forward, we’re expanding to meet your needs and the communities you serve. Alongside our well-known work in capital and endowment fundraising, PRG is bringing our other services into the forefront.
You can call on us for complete and customized support in planned giving, annual fundraising, communicating your message and fully engaging Board members in your fundraising program.
Contact us with your questions and challenges.