IRA Rollover—A Limited-time Tax Incentive

If you are over age 70 1/2 and you want to financially help Glenmary, you can make a donation directly from your IRA to Glenmary, tax free until the end of 2007 according the The Pension Protection Act that was signed into law on Aug. 17, 2006. 

General information you might need:

• You may donate to Glenmary a maximum of $100,000 from your IRA.
• In order to be tax-free, the distribution must be directly transferred from your IRA to Glenmary. 
• Any donation you make directly from your IRA must be made to a public charity such as Glenmary. Donor advised funds do not count as a public charity.
• Since the donation is tax-free when it is withdrawn from your IRA, the donation cannot be deducted on your tax return as a charitable donation.

To learn more about the IRA provision, visit www.house.gov/jct. 

As always, we at Glenmary suggest that you check with your personal advisor about what type of giving will benefit you most, depending on your circumstances. State and federal laws differ and may also affect your gift's outcome.  

We hope that you will decide to give a gift to Glenmary from your IRA. If you have any questions, we will be happy to help!

For more information contact
Planned Giving Officer Susan A. Lambert,
or call 800-935-0975.

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