Charitable IRA Legislation is Back for 2010 and 2011!

Welcome News! Congress has reinstated the IRA Charitable Rollover for 2010 and 2011. If you are 70½ or older, you can distribute funds directly from your IRA to tax-exempt entities like CJF Ministries. The transfer will count toward your minimum required distribution and will not count as taxable income. You will receive the equivalent of a charitable deduction even if you do not itemize deductions on your tax return. The extension of the IRA Charitable Rollover allows gifts made by January 31, 2011, to be treated as 2010 donations.

An easy way to start an IRA Charitable Rollover is to call or send an e-mail to your IRA Custodian. Here is a sample e-mail to use:

Dear IRA Custodian:

As the owner of IRA account #_____________________ that is in the custody of your organization, I request that you transfer from that account the sum of $__________ to CJF Ministries, Box 345, San Antonio, Texas 78292. The tax ID number for CJF Ministries is 74-1273128.

This letter is sufficient authorization for you to make this gift. However, if you require any further information/documentation, you may contact me directly at the following phone number: ____________________.

Cordially yours,

(Signature)

(Printed Name)
IRA Owner