Fund Development

Special Tax Incentive for 2008 and 2009!
If you are 70½ years or older, you can help the community to flourish at the TJCC by making a qualified charitable distribution from your IRA - up to $100,000 tax-free!  Spouses who have separate IRA accounts may each contribute $100,000 for a combined total of $200,000.

Your gift will help the TJCC respond to increasing needs in the community.  At the same time, your IRA distribution will be excluded from gross income, provided it would otherwise be taxable to you, and will minimize estate taxes.  In addition, distributions from your IRA are not subject to the 50% of adjusted gross income limitation on charitable deductions.  Even donors who don’t itemize can benefit.

This special tax incentive extends the IRA Charitable Rollover originally enacted as part of the Pension Protection Act of 2006.   It is retroactive, applying to distributions made throughout both the 2008 and 2009 tax years. 

Please consult your legal and tax advisors to determine applicability for your personal, legal, and financial needs. Any discussion of United States tax matters contained within this communication is not intended to be used to promote, market, or recommend to another party any transaction or matter addressed herein.