GIFT OF IRA FUNDS OFFERS UNIQUE
CHARITABLE OPPORTUNITY

As a 501(c)3 charitable organization, the Florida Wildlife Federation announces a special gifting opportunity for all supporters through December 31, 2007.

Congress legislated a two-year window in which holders of IRAs who are at least 70 and ½ years of age can transfer up to $100,000 per year to the charity of their choice. Financial advisors recognize this opportunity can be a double tax savings, avoiding income tax on the IRA amount contributed, and avoiding estate taxes since the gift amount is removed from the donor’s estate.

Age 70 and ½ is the age at which IRA holders must take mandatory distributions from their IRA accounts. Since IRAs were designed to postpone, but not eliminate, federal income taxes while account funds built over time, the required distribution time also requires the payment of federal income tax on the amount withdrawn.

However, 2007 is the second year for this chance to transfer distributions of up to $100,000 directly from the IRA administrator to the charity of the IRA holder’s choice (note: the donor must NOT take the distribution himself or herself directly since it will be then taxed; the donor can instruct his IRA administrator, however, to make the transfer).

The charitable sector is lobbying congress to extend and even expand the provisions of this IRA legislation beyond this calendar year. As of this writing, however, no action has been taken. Donors may also not realize that if they pass their IRA funds at death to their families, both the donor’s estate and family beneficiaries of the IRA will have to pay taxes on the remaining balances!

This leaves the month of December, 2007 as a unique opportunity for those qualified to make a contribution to the Federation. Each person’s financial circumstances are unique, so be advised to contact your financial advisor immediately if you wish to take advantage of this unique gift opportunity. To get questions and details about this kind of gift answered before year-end, please contact the Federation’s development consultant, Tim Bachmeyer, by calling: 352-425-5752, or by e-mail at: bachmeyer@earthlink.net. Also contact Manley Fuller or Diane Hines at (850) 656-7113 to notify the Federation of your intent.

Happy Holidays! And thank you for considering the Florida Wildlife Federation as a beneficiary of your holiday philanthropy. Of course, all gifts—IRAs and others—will be treasured.