Make a gifts from your IRA account
On December 17, 2010, the President signed into law The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. This bill restores the IRA Charitable Rollover for 2010 and permits its use in all of 2011. The act is retroactive to January 1, 2010, so donors who previously made 2010 IRA rollovers will qualify.

If you are age 70˝ or older and are required to make minimum withdrawals that you do not need for personal use, this may be a great way to make a gift to Planned Parenthood Federation of America (PPFA). While you cannot claim a charitable deduction for IRA gifts, you will not pay income tax on the withdrawn amount.

Rules for making a gift from your IRA:
  • A donor must be 70˝ or older and can give up to $100,000 (total) each year.
  • A couple with individual accounts can each tap their own account, doubling your family’s possible gifts up to $200,000.
  • The gift must be made directly from the custodian of your IRA to PPOSBC.
  • The gift counts towards your required minimum distribution.
  • You will not pay federal income taxes on the withdrawal for the gift, so you cannot claim an income tax charitable deduction.
  • Your IRA administrator must make the transfer to PPOSBC on or before January 31, 2011 (for a 2010 gift).

The gift is transferred directly from your traditional IRA or Roth IRA to:

Planned Parenthood of Orange and San Bernardino Counties
Development Department
700 S. Tustin St.
Orange, CA 92866
Tax I.D.: 95-6152773

Certain states may not exclude gift amounts withdrawn from an IRA for state income tax purposes. When planning your gift, please be sure to check with your fund administrator or tax preparer on whether your state of residence will tax your intended charitable distribution.

To learn more about IRA charitable gift distribution opportunities, please call us at 714.633.6373 or click here

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