Archive for December, 2010

NEWS: Tax Savings with Contributions from your IRA

Tuesday, December 21st, 2010

Good news! The President has signed the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. The bill extends for two years (through 2011) the provision that permits tax-free distributions to charity from an Individual Retirement Account (IRA) of up to $100,000 per taxpayer, per taxable year for individuals that are older than age 70 ½.

If you own an IRA and are over age 70½, you may transfer up to $100,000 directly from your IRA to Partners in Education, a qualified charity. You may not have taken your 2010 required IRA distribution and may reduce your income taxes with an IRA charitable rollover. Even if you have taken your required IRA distribution, you still may find the IRA charitable rollover a very convenient way to make a year-end gift.

On interesting additional provisions of the bill allows individuals to make charitable transfers from their IRA during January of 2011 and elect to treat them as if made during 2010.  Such contributions will be deemed made on December 31, 2010.  The provision clearly was added due to the late date at which Congress finally decided to retroactively restore this option.  Without this provision, many would likely not have become aware of this option until after the end of 2010.

An easy way to start an IRA Charitable Rollover is to send an e-mail to your IRA Custodian. This is usually a financial services company that manages your IRA. If you do, please send Partners an email and let us know.

Thank you for your support for Partners in Education. Happy new year!

Go ahead, order dessert…

Monday, December 6th, 2010

On Wednesday, December 8th, legendary Santa Fe continental grill and piano bar Vanessie will donate 10% of the evening’s proceeds to Partners. Reservations are recommended for the main dining room; there is also seating in the bar. Call 505-982-9966 or go here for reservations, hours, location and menus.

Thank you, Vanessie!

New Winter Warehouse Hours

Monday, December 6th, 2010

Effective this week, the new warehouse hours are Mondays and Fridays from 4-5:30PM.  The Warehouse is located off of Siringo between Camino Carlos Rey and Cerrillos Road right next to the Student Nutrition offices.  If you have any questions about donations (or anything really) please call (505) 989-1209.