Last Updated on Thursday, 20 October 2011 14:47 Tuesday, 28 December 2010 14:03
Charitable Giving IRA Legislation Is Back for 2010 and 2011 but you must act today!December 21, 2010
IRA Charitable Rollover Included in Final Tax Bill
Included in the Middle Class Tax Relief Act of 2010 signed by President Obama earlier this week is the provision for the IRA (Individual Retirement Account) Charitable Rollover.
The new law allows donors age 70½ to exclude from their taxable income any IRA funds up to $100,000 that have been withdrawn and transferred to a charity when filing a tax return. The IRA Charitable Rollover expired at the end of 2009 and had been in effect since 2006.
The extension also is retroactive, meaning that the tax benefits of the provision apply to any qualified donations made after Dec. 31, 2009. The extension of the IRA Charitable Rollover also includes a special provision that allows taxpayers who make any qualified donations between Dec. 31, 2010, and Feb. 1, 2011, to deem that those donations were made on Dec. 31, 2010, for tax filing purposes, according to Paulette V. Maehara, CFRE, CAE, president and CEO of the Association of Fundraising Professionals (AFP) in Alexandria, Va.
The provision is extended through Dec. 31, 2011
“Tax incentives such as the IRA Charitable Rollover provision play a vital role in encouraging donors to make gifts, especially as the contribution amounts become larger,” said Maehara. “The rollover provision is a powerful and unique way that donors can make support charitable causes in their communities.”
AFP will be working with members of Congress to remove the $100,000 cap on gifts from IRAs and lower the age threshold for all such gifts from 70½ to 59½. “The IRA Charitable Rollover has worked very successfully over the last few years, but it could be enhanced to encourage additional giving,” added Maehara. “We believe the provision’s impact could reach billions of dollars annually once the public becomes more familiar with it.”



Theodora Polamalu will make a rare public appearance at a Jan. 25 dinner to raise funds for an Orthodox Christian charity.
About a month ago, Nancy, a regular guest at the FOCUS Orange County Sunday night meals at Valencia Hotel, asked FOCUS Orange County Director Jacob Lee if the center would be giving out Christmas gifts to the children because she couldn’t afford to get her kids anything for Christmas.
Earlier this year, George’s house burned down. While his wife and three kids now share a two-bedroom house with another family, George chooses to stay at a shelter to provide more room for his family and so he doesn’t burden their hosts. Working odd jobs helps pay for some of his families needs, but it isn’t enough to move them into their own apartment.
Thanks to you, 2010 has been a fantastic year. FOCUS North America started this year with one center in Kansas City, Missouri, a few ministry partners, three full-time and two part-time employees at the national office, a small but viable sum of cash, and a carefully worked-out strategic vision for expanding its ministry. FOCUS North America still has only seven employees and some cash, but now there are seven FOCUS centers in development – yes, seven. I share my joy again! These centers – in the Twin Cities, San Diego, Orange County, St. Louis, Appalachia, Orlando and Kansas City – deliver hot, nutritious meals, clothes, home repair, job assistance, addiction counseling and many other vital life recovery services to hungry and hurting men, women and children.
Orthodox Christians in the Pittsburg area and nationwide are ramping up efforts to reach out to their neighbors and provide necessary assistance to the “least of these” among us.
Over 1000 people attended the Dec. 3rd House of Blues at Downtown Disney charity concert benefiting FOCUS Orange County and two other local charities. FOCUS Orange County was given 15 minutes of stage time to share the work FOCUS Orange County is doing and collected 150 cans of food for the food pantry at El Dorado Motel, which makes the food available to the many working poor families staying at its motel and the neighboring Valencia Motel.
While some families are trying to decide between a visit to Grandma’s on Christmas, or how much turkey to cook for their guests, others are trying to make the difficult decision between shelter or food this holiday season.
FOCUS Orange County will be collecting canned food at the House of Blues Holiday Concert this Friday night Dec. 3rd from 6pm to Midnight. Come out and support FOCUS OC and the work we are doing to serve the working poor here in the OC. Jacob Lee the FOCUS OC director will be speaking about the work of FOCUS OC between the 2nd and 3rd bands approx 8:40pm to 8:55pm. We are hopping to fill the FOCUS Truck full of food so please come by and drop off a can of food for the working poor of Orange County.