Research Triangle Park, N.C.  While the recently enacted $700 billion economic bailout package was designed primarily to rescue and stabilize American financial markets, there is at least one provision that may directly benefit the National Humanities Center and its donors. Included in the bailout bill is a two-year extension of an IRA rollover provision that exempts from taxable income any funds transferred ("rolled over") from an individual retirement account (IRA) to a charitable organization.

This provision will allow donors who are 70 ½ or older to make direct gifts of up to $100,000 to the Center without having to first recognize those gifts as income. A similar provision had expired at the end of 2007, and its reinstatement for 2008 and 2009 is a boon to donors and charitable organizations in the midst of the current economic storm. "This is a wonderful benefit for donors who want to make a gift using retirement funds," says Carol Vorhaus, Director of Development for the Center. "It will allow our supporters to make their contributions go further which is important now more than ever."

With its annual fund drive underway, the Center is looking to raise $540,000 in the 2008–09 fiscal year. Annual fundraising is responsible for a significant portion of the Center’s annual expenses and provides vital support for the Center’s fellowship, education, and outreach programs.

The National Humanities Center, located in the Research Triangle Park of North Carolina, is a privately incorporated independent institute for advanced study in the humanities. Since 1978 the Center has awarded fellowships to leading scholars in the humanities, whose work at the Center has resulted in the publication of more than 1,000 books in all fields of humanistic study. The Center also sponsors programs to strengthen humanities teaching in secondary schools and higher education and outreach initiatives that increase public awareness and appreciation for the humanities.