Act Now! Legislative Initiative Would Make Gift Giving from IRAs Easier and Allow Younger Donors | npENGAGE

Act Now! Legislative Initiative Would Make Gift Giving from IRAs Easier and Allow Younger Donors

By on Apr 26, 2011

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An important bill that could mean additional current revenue to your organization has been introduced by Senators Chuck Schumer (D-NY) and Olympia Snowe (R-ME). The Public Good IRA Rollover Act of 2011 (S. 557) would extend the IRA charitable rollover beyond 2011, lift the $100,000 cap on distributions, and allow planned gifts beginning at age 59½, which is currently limited to age 70½ . Hundreds of millions of dollars have passed from IRA funds to charitable organizations in the past few years under similar legislation. The new law, if enacted, would also allow IRA charitable rollovers to be made to donor-advised funds, supporting organizations, and private foundations, which is currently prohibited. Representatives from charitable organizations are encouraged to contact their Senators and ask them to support the charitable sector by co-sponsoring S. 557.

To see more information go to the Legislative Update section of the Partners for Philanthropic Planning website. To find your Senators’ contact information go to http://www.senate.gov/general/contact_information/senators_cfm.cfm.

ABOUT THE AUTHOR

Katherine Swank, JD, senior consultant at Target Analytics, a Blackbaud Company, helps nonprofits apply statistical analytics and donor research to their fundraising efforts with an emphasis on planned gifts. She has raised nearly $250 million for mission funding during her nonprofit development career. Katherine is a retired affiliate faculty member of Regis University’s master of Global Nonprofit Management degree program, where she taught courses on wealth and philanthropy.  Along with writing for publications like Advancing Philanthropy and Philanthropy Journal, she is also a frequent presenter for industry conferences such as NACGP, AFP, APRA, and bbcon. Having grown up in a tourist destination in Colorado, Katherine has become an avid world traveler and is exploring her way through the 1,000 places to see before you die, albeit slowly.  Connect with her on Twitter @KatherineSwank.

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