Two-Year Extension of the Charitable IRA Rollover Provision

The Charitable IRA (Individual Retirement Account) Rollover provision that was in effect during 2006 and 2007 has been extended. The provision, which allows eligible IRA owners to donate directly from their IRAs to the charity of their choice, will be made retroactive to January 1, 2008 and will apply to gifts made from that date through December 31, 2009.

The Charitable IRA Rollover provision encourages eligible IRA owners to make charitable gifts from their IRAs as a way of satisfying their annual minimum withdrawal requirement. During 2008 and 2009, the law gives donors the choice of donating up to $100,000 a year from their IRAs without the distribution being included as taxable income.

Making a charitable gift through your IRA can be done simply as long as you meet the following qualifications:

• You are 70 ½ or older at the time of the gift
• The gift being made is $100,000 or less each year
• The gift is made on or before December 31, 2009. Qualified distributions must be made by December 31 of each year.
• The gift is transferred directly to the Sisters of St. Joseph Ministries Foundation or another qualified public charity from an IRA or Rollover IRA.

When making a gift to the Sisters of St. Joseph Ministries Foundation through your IRA, it is important to inform us because some institutions do not automatically provide information about the donor.

The IRA Rollover provides a creative and easy way to support the Sisters of St. Joseph Ministries Foundation and our Network of Help and Hope. If you have any questions or comments, please contact Lisse Regehr, Planned Giving Officer for the Sisters of St. Joseph Ministries Foundation at 651-690-7092 or lregehr@csjstpaul.org.

October 23, 2008

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