Getting ready to make your year-end charitable gifts? Consider making a gift to Deafness Research Foundation (DRF). DRF works to make healthy hearing possible for everyone through quality research and education. In addition to being the leading national source of private funding for research in hearing and balance science, DRF publishes Hearing Health magazine. Your support ensures that we can continue fi nding successful treatments to help those living with hearing loss and balance disorders and to protect those at risk. You may provide your charitable gift online at www.drf.org or by mail:
641 Lexington Ave., 15th Fl.
New York, NY 10022
IRA Charitable Rollover Tax Incentive
The economic turmoil of late resulted in a bit of good news for individuals aged 70 and older. Congress extended the IRA Charitable Rollover tax incentive as part of the Emergency Economic Stabilization Act of 2008 (H.R.1424), signed into law on October 3, 2008.
The IRA Charitable Rollover tax incentive allows individuals aged 70 and older to donate up to $100,000 from their individual retirement accounts (IRAs) and Roth IRAs to public charities without having to count the distributions as taxable income. Only contributions made between January 1, 2008, and December 31, 2009, are eligible for the enhanced tax benefit. Donors must be 70 or older when the distribution is made. A donor's total combined charitable IRA rollover contributions cannot exceed $100,000 in any one year. Charitable contributions from an IRA must go directly to a public charity.
Not 70 yet?
General Gifts: Gifts to DRF can provide seed funding for exciting new research, support programs and enable us to continue our work in the years to come.
Tribute Gifts: Consider making a donation in honor or memory of a friend or loved one, or for a special occasion, such as the holidays, a birthday or an anniversary.
Matching Gifts: Many employers offer programs that match charitable contributions made by their employees. Employer matching gift programs may also be available to you if you are the spouse of an employee, a retired employee or the spouse, widow or widower of a retiree. This is a great way to enhance your gift to DRF.
Gifts of Stock: Donating shares of a publicly traded company is an excellent means of giving to DRF. Your gift of stock that has appreciated in value over time may provide you with a greater tax benefit than giving cash. Your charitable income tax deduction is equal to the fair market value of the stock. You may also avoid paying capital gains tax on any increase in the current value over the original cost of the stock. Your broker can assist you in making a gift of stock by a direct transfer to DRF.
Planned Gifts: When you name DRF in your will, you create a legacy of hope for people with hearing loss and balance disorders. With a gift through your will or living trust, you retain full use of your gift, preserving current income, during your life. Bequests and gifts through living trusts can be any size and may be of cash, securities, real estate or other property. In addition, such gifts can reduce estate taxes.
Are You a Federal Employee?
The 2009 Combined Federal Campaign (CFC) concludes on December 15. Funds raised go to support nonprofit organizations providing health and human services throughout the world. Please support DRF CFC number: 11853 through your CFC payroll deduction plan. For more information, e-mail development@drf.org or call 212.328.9480.
Deafness Research Foundation is a nonprofit organization with IRS 501(c)(3) designation. Your donation is tax-deductible to the full extent of the law. Note: This article is provided for informational purposes only and is not intended to serve as legal or tax advice. Please speak with your tax professional and/or attorney to determine the best fit for your philanthropic plans.
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DRF funds research that changes lives.