Giving

NEW GIFT PLANNING OPPORTUNITY
FOR THOSE WITH IRAS

In August 2006, President Bush signed the Pension Protection Act into law.  This law includes a provision that permits tax-free distributions from IRAs—the charitable IRA rollover.  The tax savings can significantly lower your cost of making gifts to Baldwin-Wallace in 2006 and 2007.

The requirements are few; you must:

 •   Be age 70 ½ by 12/31/2007 and
 •   Have an IRA or Roth IRA. 

The new Pension Protection Act allows distributions directly from your IRA to one or more charities without being included in taxable federal income and subject to withholding.  Also, funds transferred from your IRA to charity count toward your mandatory annual withdrawal.

You may instruct the custodian of your IRA (traditional or Roth) to make a direct transfer to Baldwin-Wallace College in payment of an annual pledge, capital pledge, endowment gift, or other special gift.  IRA donors are permitted to make gifts up to $100,000 per year.  (Note:  Your IRA withdrawal is tax-free for federal purposes.  Consult your advisor to determine the applicability of state income taxes, if any.)

For more information please contact:

Bill Spiker – Vice President for Advancement	(440) 826-3623
Tom Konkoly – Director of Development	(440) 826-3460
Mike Walczak – Director of Trusts and Estates	(440) 826-3558
Marylou Hunter – Director of Gift Administration	(440) 826-2136

The links below will provide you with generic letters for your gift from your qualified retirement plan.  Simply print, complete and mail them to take advantage of the savings.

Letter of instruction to qualified plan custodian
Letter to Baldwin-Wallace College