October, 2008 - President Bush has signed a new law enabling people who
have Individual Retirement Accounts (IRAs)—and who are 70˝ or older—to make
gifts through their IRAs in 2008 and 2009. Up to $100,000 per year can be
contributed in this manner. Gifts of this kind not only benefit the Red Cross,
but also reduce taxes on required annual distribution.
Making IRA gifts is easy. Simply contact your IRA trustee or custodian as soon as
possible and notify our office of your plans, so we may ensure proper transfer
and receipting of your gift for 2008.
The renewed
IRA charitable giving opportunity comes at a critical time for the Red Cross.
We have heard from many friends who know that their help is needed now more
than ever. Many of them note, however, that their best resource for giving—an
IRA—became “off limits” when the IRA gift law expired at the end of 2007.
Happily, Congress has made IRA gifts possible once again.
We encourage
you to contact Barbara Deurwaarder toll free at 888-895-1099, or at
503-863-0151 with questions concerning any gifts from retirement plans,
including qualified IRA contributions and beneficiary arrangements. Keep in
mind that IRA gift checks should be issued in the name of the American Red
Cross, not to you personally.
