IRA Charitable Rollover Can Benefit Fresno State
If you’ll be 70½ or older in 2007, you can have an instant and enormous impact on the future of Fresno State and gain a significant tax benefit by making an IRA charitable rollover to fund programs that matter to you. Your gift of up to $100,000 per taxpayer in 2007 will be excluded from your taxable income if you arrange for a transfer of funds directly from your traditional or Roth IRA no sooner than the date you turn 70½. No income percentage limitations are applicable. The distribution will not be taxed and it will not be reported as income to you. Furthermore, the distribution counts toward your 2007 required minimum distribution. Act now – this opportunity will likely end in December 2007. “The university benefits from every contribution that is given,” said Helen Smades, an IRA benefactor and member of the Foundation Board of Governors at Fresno State. “Years ago the state provided almost all the money to run a university, and now the majority of expenses have to come from contributions.”
For more information and sample letters to your IRA custodian, please visit www.supportfresnostate.com. Or you may contact Carol Widmer, CFP, director of planned giving, at (559) 278-8337 or cwidmer@csufresno.edu.