IRA Charitable Rollover Extension is Back!

A special opportunity to give to the Orthodox Christian Mission Center through your IRA has been extended through the end of 2011.

Thanks to this provision, if you are 70 ½ years of age or older, you can distribute any amount, up to $100,000, from your IRA to the Orthodox Christian Mission Center now through December 31, 2011. This amount will count toward your required minimum distribution (RMD) for the year and it will not be treated as taxable income.

Here are the details:

1. Your IRA rollover gifts must be made outright to qualified charities from a traditional IRA. Gifts to donor advised funds, private foundations, and supporting organizations are not eligible.
2. The amount rolled over from your IRA will be excluded from your gross income.
3. Your IRA rollover will count toward your minimum distribution requirement.
4. There is no federal income tax deduction for the IRA rollover gift.
5. Your gift must be sent from the IRA directly to OCMC to qualify.

The IRA rollover provision is effective now through December 31, 2011 so there is still plenty of time to take advantage of this benefit!

If you are interested in supporting OCMC in this way, please be sure to include written instructions on how you would like us to allocate your gift. You may also contact Amy Pierce at 904-829-5132 ext 160 or amy@ocmc.org with your gift designation or for more information.

Thank you for your support of OCMC!