Charitable Rollover

Extension of Pension Protection Plan Offers Great Giving Opportunity

The Pension Protection Act of 2006 was extended through Dec. 31, 2009. This legislation offers a tax benefit opportunity to people who are age 70½ or older and who own an IRA.

This law allows you to make distributions directly from your IRA to charities like Mosaic without the distributions being included in your taxable income.

This is an excellent opportunity both for donors and for charities across the country. In general, making a charitable gift from an IRA rather than other assets is most appropriate for people who:

• Would not be able to deduct all of their charitable contributions because of deduction limitations.
• May lose some of their itemized deductions because of their income level.
• Desire to make a gift, but lack other appropriate assets from which to give.

There are some limitations however.

• Charitable distributions from an IRA cannot exceed $100,000 per year per IRA owner.
• They must be made to a public charity.
• Distributions cannot be used to for life income gifts such as gift annuities or charitable remainder trusts.
• Gifts must be received by the charity in the calendar year the donor wishes to make the gift.

The distribution check from the IRA plan administrator must be made payable to the charity and sent directly to the charity.

For more information about or other gift options, please contact a Mosaic planned giving professional using the Information Request form. You may also write or call Mosaic at:

Mosaic
Donor Relations Specialist
4980 S. 118th St.
Omaha, NE 68137-2220

877.366.7242 x1106 (toll free)