On December 16, 2014, Congress passed and the President signed legislation extending to 2014 a provision that allows direct transfers to Hamilton (and other public charities) from IRAs. The amount of the gift is excluded from gross income - even though it counts toward the Required Minimum Distribution - and no income tax charitable deduction is allowed.
You may direct transfers to charities from IRAs without tax consequence, if:
Even if you have taken your required IRA distribution in 2014, you may find a contribution to Hamilton from your IRA attractive because of the way retirement assets are taxed.
Taking advantage of available planning opportunities by December 31, 2014, can help you reduce your income, estate and gift tax exposure while acheieving your personal and financial goals. Click here for more details.
A full description of ATRA prepared by Hamilton’s legal counsel can be viewed at Private Clients Alert.
For those who wish to benefit Hamilton, charitable gift annuities can make your assets productive. Please call Ben Madonia '74 at 866-729-0317 or go to the gift calculator.
This may be an opportune time to consider a gift of real estate, regardless of where it is located. By donating a personal residence, commercial property or undeveloped land, you may accomplish philanthropic and personal planning objectives. Read more about a gift of a vacation residence from Win and Lawry Gulick '52.
Hamilton received a Private Letter Ruling from the IRS allowing charitable remainder trusts to participate in the investment return of the College's endowment.
Hamilton makes a number of resources available to you, including the following: