If you're 70½ or older, you can make a tax-free gift to ACR

Since 2006, the federal government has allowed individuals ages 70½ and older to transfer up to $100,000 per year directly from an IRA to public nonprofit organizations like ACR without triggering a federal income tax. 

For 2010, the law took effect on December 17, 2010, when the President signed into law The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. This bill restored the IRA Charitable Rollover for 2010 and permits its use in all of 2011.  If you're 70½ or older, you can make a tax-free IRA gift to Audubon Canyon Ranch by January 31, 2011, and the payment will count for 2010. The act is retroactive to January 1, 2010, so donors who previously made 2010 IRA rollovers will qualify.

Donors must take care that

• the IRA owner is 70½ or older

• the transfer is for no more than $100,000 each year

• the transfer is made directly from a trustee to the charitable organization

Because Congress recognized that it is very late in the year, individuals who choose to make a qualified charitable distribution rollover from their IRA trustee to a charity may make their 2010 charitable gift during 2010 or in January of 2011. 

Even if you have taken your required IRA distribution, you still may find the IRA charitable rollover a very convenient way to make a year-end gift.

To make your tax-free IRA Charitable Rollover, contact your IRA custodian or the financial services company that manages your IRA.