Retirement Funds

A Special Tax-Free Giving Opportunity Set to Expire in 2011

A special philanthropic opportunity is available to our friends and supporters.  You can make a make a TAX-FREE GIFT FROM YOUR IRA UNTIL DECEMBER 31, 2011, AT WHICH TIME THE IRA CHARITY ROLLOVER PROVISION IS SET TO EXPIRE.  

The current law provides that if you are over the age of 70 l/2 and:
 
• The charitable contribution is made directly from your IRA, and
• The gift does not exceed $100,000 in 2011, and
• You receive no economic benefit from the charity in exchange for the gift

Then…you will be able to distribute these IRA funds to American Friends of The Hebrew University in support of Hebrew University without paying any income tax on your IRA withdrawal.  For those of you required to take mandatory minimum distributions from your IRA this year, you can contribute up to $100,000 directly from your IRA to American Friends of The Hebrew University and pay no income tax on the distributions.

You may find that this is a wonderful way to maximize your philanthropic giving in support of Israel’s finest institution of higher learning and research.  To discuss this timely opportunity and other tax-advantaged ways to maximize your support on behalf of The Hebrew University of Jerusalem, please contact Peter Willner, National Executive Director of AFHU, at 212-607-8555 or e-mail: pwillner@afhu.org.