You can contribute to Aurora’s future by planning for a special kind of gift. Although cash contributions are always appreciated, there are other creative and flexible options that can benefit you and Aurora. You can help ensure our organization’s future by creating a trust while you are living or by including Aurora in your will. Appreciated securities are an excellent way of funding many of these gifts, often unlocking greater income while eliminating, or at least reducing, capital gains tax.
IRA Rollover provision extended through 2013
Friends of Aurora who are 70 1/2 or older can use their IRAs to make a gift of up to $100,000 to Aurora without reporting the withdrawal as taxable income. Distributions must be made by December 31, 2013.
This option may be most useful for donors who:
- Must make a required minimum distribution from their IRA but do not need the income
- Have exceeded their ability to claim an income tax deduction
- Do not itemize their deductions
- May have more of their Social Security income taxed by receiving additional income
For details please call the Development Director at 812-428-3246 or contact your personal financial planner for assistance. Restrictions apply, so consult with your advisors to determine how such a gift would affect your overall tax and estate planning, as well as the rules pertaining to the state you reside in.