Things heated up in Washington, D.C. while 2010 was coming to a close with the passage of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. Several of the provisions have an impact on charitable giving and donations made to organizations like Oakland University.
In particular, one of the provisions has created opportunities related to making donations through an IRA charitable distribution. The IRA charitable gift rollover, which originated in 2006 and has now been extended through December 31, 2011, enables donors to use certain retirement accounts to make current donations to eligible charities, such as Oakland University.
If you have a regular or Roth IRA and are 70 ½ or older, you may want to read this article on Yahoo! Finance or this one at GiftPlanning.com .
For more information on whether an IRA charitable rollover is the best giving option for you, please contact your financial or tax advisor. If you decide to make a charitable rollover to Oakland University, you should contact your IRA plan administrator.
Oakland University would be pleased to assist you, your financial advisor and/or your plan administrator with this gift. We can be reached in our Planned Giving office at (248)364-6129 or schmucke@oakland.edu. Please let us know of your intentions at the time you notify your plan administrator.