Congress has reauthorized legislation for 2010 that allows owners of IRA accounts who are age 70 1/2 and older to make direct charitable contributions from an IRA without incurring any income tax liability (up to $100,000.00).  While you cannot claim the charitable deduction for the direct IRA gift, you will not be taxed on the amount given.  You can direct up to $100,000.00 from your IRA to charities of your choice.  The amount directed to charities can be part of your required minimum distribution, or can be in addition to your required minimum distribution.

To make a gift to SPC from your IRA account, contact the Custodian of your IRA for the necessary form.

Please note that 401K, 403b, SEP and other retirement plans do not qualify.

If you have any questions, please feel free to contact Betsy Ffrench, a member of the Planned Giving Committee, at 610-544-8253.