727 Harvard Ave, Swarthmore, PA 19081
Special Note re IRAs for those age 70+
The American Taxpayer Relief Act of 2012 has reinstated the Charitable IRA Rollover retroactively for 2012 and extends it through December 31, 2013. Originally enacted in 2006, the Charitable IRA Rollover allows individuals age 70½ and older to make direct transfers up to $100,000 per year from individual retirement accounts to qualified charities without having to count the transfers as income for federal tax purposes. Since no tax is incurred on the withdrawal, gifts do not qualify for a charitable deduction, but may be counted toward an individual’s minimum required distribution.
To make a gift from an IRA, please follow these instructions:
Ask your broker to wire transfer your stock gift by DTC to SPC’s Special Purpose Account at Charles Schwab:
Account name – Swarthmore Presbyterian Church – Special Purpose Fund
DTC number – 0164
SPC’s tax identification number (EIN) is 23-1352491
Your gift will be valued and acknowledged on the date that the stock arrived in our account, and you will receive a letter confirmation of the trade details.
Please notify the Finance office (610.543.4712 or firstname.lastname@example.org) that you are initiating this transaction. We will need to know the name of the stock, the number of shares that you are transferring, and how you would like the gift to be used.
Gifting from an IRA Account