{"id":6055,"date":"2011-02-10T11:40:47","date_gmt":"2011-02-10T16:40:47","guid":{"rendered":"http:\/\/emu.edu\/now\/news\/?p=6055"},"modified":"2016-01-06T08:50:06","modified_gmt":"2016-01-06T13:50:06","slug":"tax-free-charitable-ira-rollover-option-is-back-for-2011","status":"publish","type":"post","link":"https:\/\/emu.edu\/now\/news\/2011\/tax-free-charitable-ira-rollover-option-is-back-for-2011\/","title":{"rendered":"Tax-Free Charitable IRA Rollover Option is Back for 2011"},"content":{"rendered":"

The charitable IRA rollover is back for 2011. You don\u2019t have to pay taxes on your charitable IRA withdrawals!<\/p>\n

In 2011, you can make a gift to EMU from your Individual Retirement Account (IRA) tax-free, helping shape the education of future generations of peacebuilders, service workers, and leaders of meaningful change in the world.<\/p>\n

And you could save from 20\u00a2 to 40\u00a2 on the dollar.<\/p>\n

Rules for 2011 IRA rollovers<\/h3>\n

\u2022\tYou must be age 70\u00bd or older to request a rollover from your IRA to EMU.
\n\u2022\tGifts must be made from a regular IRA or a Roth IRA. Gifts from a SEP IRA are not eligible.
\n\u2022\tChecks must be made payable directly to EMU by your IRA custodian. [Caution: Please do NOT have the check issued in your name.]
\n\u2022\tChecks can be mailed to EMU or directly to you. It is preferable to have the check sent directly to EMU. This assures a more timely delivery.
\n\u2022\tThe maximum amount that can be given in one year by an IRA donor is $100,000. This can be one gift to one charity or the total of multiple gifts to several charities.
\n\u2022\tYour gift can be used to fulfill a pledge.
\n\u2022\tPlease inform EMU about a pending gift since your custodian may send a check without including your name.
\n\u2022\tYou cannot give from your IRA for charitable gift annuities or for charitable remainder trusts.
\n\u2022\tYou cannot give to a donor advised fund.
\n\u2022\tThe Mennonite Foundation is not eligible to receive these gifts.<\/p>\n

Other gift information<\/h3>\n
    \n
  1. Send a letter<\/a> to your IRA custodian giving them instructions for sending your gift to EMU, 1200 Park Road, Harrisonburg, VA 22802. [EMU\u2019s EIN number is 54-057581]<\/li>\n
  2. Either send a copy of that letter or a separate notification letter<\/a> to EMU for our records.<\/li>\n<\/ol>\n

    Have questions?<\/h3>\n

    Sure you do! Be in touch with development program directors, listed below, or call the university development office<\/a> toll-free at 800-368-3383<\/strong> at your convenience.<\/p>\n