IRA Gifts - Planned Giving Update
Committee on Development Meeting
June 1, 2007
At the March meeting, we announced that Hamilton College received a Private Letter Ruling (PLR) from the Internal Revenue Service to allow charitable remainder trusts to participate in the investment return of the entire endowment. Donors and Hamilton will benefit from increased diversification and, based on past endowment results, increased growth potential over pre-PLR options. The College has a marketing opportunity, of which the post card, Hamilton, Harvard and Stanford, mailed in February, is an example.
Hamilton received IRA distributions totaling $133,321.15 from 13 donors in 2006. As you may recall, lifetime transfers of IRA assets to not-for-profit organizations by individuals 70 1/2 became attractive with the passing of the Pension Protection Act last August. The provision applies to 2007 as well as 2006. The Class of 1958 leadership, in anticipation of its 50th reunion, has advised all classmates of the opportunity. We will mail a post card to alumni of the appropriate age this fall.
The results of this fiscal year reveal that nearly half of the planned gifts came from alumni in reunion classes. We will continue our planned gift marketing efforts to reunion classes.
Reunion and campaign planned gift activity support what I have noted for nearly 25 years, especially at these meetings -- everyone at Hamilton, the president, trustees, employees and faculty, are involved in Planned Giving.
Benjamin Madonia III
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