By Beth Yeakel, Director
Foundation Services

When Congress passed the Emergency Economic Stabilization Act of 2008 last week, included in the legislation was an extension of the IRA charitable rollover from the Pension Protection Act of 2006. This provision of the PPA expired at the end of 2007.

This new legislation allows the owner of a traditional or Roth IRA, who is 70½ years of age or older, to make a direct distribution from the IRA to a public charity. The distribution, provided it is made directly to the charity, will not be included in the donor’s taxable income and it will count toward the donor’s mandatory withdrawal requirements.

The distribution may be in any amount, up to $100,000. This giving opportunity will be available to eligible donors in both 2008 and 2009.

Please note that the gift must be outright; it cannot be used to fund planned gift instruments such as annuities or trusts.

Using a distribution from your IRA may be an excellent way for you to make a payment on your from Age to Age pledge, to add to one of the endowments of The Foundation for the Diocese of Helena, or to make an end-of-year gift to your parish. Call Bernie Hewitt, Glenda Seipp or Beth Yeakel at 1-800-584-8914 if you would like more information. For charitable gifts to be credited for calendar year 2008, please note the following:

• Checks received by the Church, including parishes, after Jan. 1, 2009, must be accompanied by a postmarked envelope dated no later than Dec. 31, 2008.
• Transfers of stocks or securities must take place on or prior to Dec. 31.
• Credit card transactions must occur on or before Dec. 31.