Charitable Giving Set to Expire December 31, 2009
News Release Date: November 16, 2009
Research Triangle Park, N.C. A provision included in the 2008 economic bailout package designed to encourage charitable giving will expire on December 31, 2009. The provision allows eligible donors to make charitable gifts directly from their IRA without incurring a tax on the withdrawn funds.
Donors who are 70 1/2 or older can make direct gifts of up to $100,000 to the National Humanities Center and other charities 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 has been 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."
Only donors who are sure they will not need these assets at a later date should consider a charitable gift from their IRA. Donors of any age can make a deferred gift of an IRA or other retirement account by naming the National Humanities Center as a beneficiary of the account at their death.
Donors wishing to take advantage of this provision should contact Carol Vorhaus (919) 406-0101 for further information.
- How do you make a gift?
- Sample letter to Plan Administrator (PDF)
- Sample letter to the National Humanities Center (PDF)
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.
