Make a distribution from your IRA to OLCV Education Fund
You can transfer a distribution from your Individual Retirement Account to OLCV Education Fund and avoid taxes.
Here's how:
The law that allows direct IRA charitable distributions is set to expire at the end of 2011. This provision gives older taxpayers the ability to exclude up to $100,000 per year from their federal income when they make a "qualified charitable distribution" directly from their IRA. Couples with separate IRAs may exclude up to $200,000 per year.
To qualify:
- You must be at least 70 ½ on the date of the distribution.
- The distribution must occur on or before December 31, 2011.
- The distribution must be directly transferred from your IRA to a public charity like OLCV Education Fund.
What you need to know about OLCV Education Fund:
Our Tax ID # is 93-1177957.
Our address is 133 SW 2nd Ave., Ste 200, Portland OR 97204.
For more information, or to inform us of your plans to make a transfer, please call 503-224-4011.