Charitable IRA Distributions

Charitable IRA Distributions

Forum topic posted in Forum on 1 April 2010| 8 comments
audience: | last updated: 1 April 2010
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Offline
Joined: 02/04/2003
Points: 30
Just saw the email today that says: On March 10, 2010, the Senate passed H.R. 4213, the Tax Extenders Act of 2009 - does this mean that the law is now officially extended? Can we start talking with donors about making this kind of transfer or is there more work to be done in reconciling the House/Senate bills or signing or whatever? Anybody know? Thanks in advance! Sarah Brooklyn Botanic Garden

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Offline
Joined: 04/29/2010
Points: 15
Has this been officially passed now?
Just wondering if anyone's heard whether this was officially passed by the House, Senate and the President. I have a client that would like to do this again.
Offline
Joined: 04/11/2010
Points: 45
OK - Looks good for 2010 IRA Charitable Gifts
Just saw on the Design Center web that the House and Senate have agreed on language that renews the IRA Charitable Deduction through December 31, 2010. GOOD NEWS !
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Joined: 05/19/2010
Points: 15
Charitable Distributions
I too would like to be apprised of its progress.
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Joined: 04/11/2010
Points: 45
IRA Charitable Gifts
Anything new on the House approving this extension and sending back to the Senate?
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Joined: 10/12/1998
Points: 30
509(a)(3)=supporting organization=not elig for "charitable IRA"
Most hospital foundations are supporting organizations
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Joined: 11/27/2007
Points: 15
Qualified charitable organizations
We are a Community College Foundation with a 501 (c)(3) TIN and our purpose is Educational. We are further defined as a 509(a)(3) organization. Are we eligible to receive IRA rollovers? Or are we a supporting organization that is not eligible?
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Joined: 10/12/1998
Points: 30
509(a)(3) = supporting organization = no "charitable IRA" gifts
Most hospital foundations are supporting organizations
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Joined: 05/20/2002
Points: 75
Charitable IRA Distributions
I too at first concluded from reading the recent post on PGDC that the IRA giving provisions had been extended by the Senate's action on March 10. An email to the author of the post revealed that the House must pass the extenders in the same language as the Senate and the provision must then be signed by the President. Further inquiry shows that the House and Senate may take considerable time to reconcile their differences in the "extender legislation." (Comments of Sander Levin (D-Mich), Chair of the House Ways and Mean Committee on March 9, cited in a recent email from the Council on Foundations on the topic). It seems that we in the nonprofit sector must continue our wait and watch status with regard to the extenders for charitable giving while Congress addresses this and other pressing issues--expiration of the estate tax, immigration, financial regulation, etc. Unfortunately the needs of our constituents are not able to be extended as long as the Congressional debates on the extenders. As we relearn our fundamental civics lessons on the legislative process, our donors' desire to help and the needs of their favorite charities still remain.
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Joined: 09/20/2007
Points: 15
Charitable IRA Deductions
I would like to know the answer to this also.
7520 Rates: December 26% November 2.4% October 2.2%

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