News Release Date: December 21, 2010; Updated: September 7, 2011
Research Triangle Park, N.C. On December 17, 2010, President Obama signed the charitable IRA rollover extension into law. The provision allows eligible donors to make charitable gifts directly from their IRA without incurring a tax on the withdrawn funds.
Under the provision, taxpayers 70 1/2 years or older are allowed to make a tax-free rollover of up to $100,000 from a traditional IRA or Roth IRA directly to a qualified charitable organization, such as the National Humanities Center. This extension runs through December 31, 2011.
Similar provisions implemented for 2008 and 2009 have been a boon to donors and charitable organizations. "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)
About the National Humanities Center
The National Humanities Center is the nation's leading independent institute for advanced study in all fields of the humanities. Privately incorporated and governed by a distinguished board of trustees from academic, professional, and public life, the Center provides a national focus for the best work in the liberal arts, drawing attention to the enduring value of ancient and modern history, language and literature, ethical and moral reflection, artistic and cultural traditions, and critical thought in every area of humanistic investigation. By encouraging excellence in scholarship, the Center seeks to insure the continuing strength of the liberal arts and to affirm the importance of the humanities in American life.