Community College of Philadelphia Foundation

IRA Charitable Rollover

On October 3, 2008, Congress and President Bush signed legislation that extends the IRA Charitable Rollover until December 31, 2009.

The IRA Charitable Rollover allows IRA owners ages 70½ and older to make tax-free donations from their IRA to eligible charitable organizations, including colleges and universities. Donations may total up to $100,000 per year.

Benefits
Donors who make a contribution from their IRA may exclude up to $100,000 per year from their taxable income.

How to Make Your Gift
Contact your IRA plan administrator and request that funds be transferred directly to Community College of Philadelphia. Donors should not withdraw funds from their IRA themselves and then make a private contribution. This could result in unwanted tax consequences.

Before transferring funds from an IRA, Community College of Philadelphia recommends that donors consult their tax or financial advisor to discuss the transaction. We also ask that you contact us and inform us of your intentions.

The current IRA Charitable Rollover legislation expires on December 31, 2009. The staff at the Community College of Philadelphia Foundation can assist you in making your gift, so you can take advantage of this limited-time opportunity.

Contact Us
For more information about IRA Charitable Rollovers, contact:

Lyvette Jones, Director of Leadership Gifts
Community College of Philadelphia Foundation
1700 Spring Garden Street, Annex - 7th Floor
Philadelphia, PA 19130

(215) 751-8046
lyjones@ccp.edu