Idaho Gives 2016!

You did it! We reached our $5,000 goal and received a matching challenge from The Nalen Foundation!

Thank you to everyone who donate to Idaho Gives yesterday! YOU raised a total of $13,080  for Blaine County kids and the Summer Food Program! What an incredible day of giving! Thank you to The Nalen Foundation for their inspiring $5,000 matching challenge, and to each and every donor who supported us!

matching_carrotsThe 2015 Summer Food Program served 4,533 free breakfasts, lunches and snacks to local children in need. This is done with the generous help of numerous community volunteers. A record 87 kids were served in one day!

A 24-hour day of online charitable giving, Idaho Gives is a powerful way to support The Hunger Coalition and Blaine County kids. Be a part of something big. When we go all in, Idaho wins! Your donations can help The Hunger Coalition win extra award money. Click below to donate to The Hunger Coalition!

idaho gives double your donation

On May 5th, Idaho Gives – will you?

Charitable IRA Law Permanently Changed

taxesThe Protecting Americans from Tax Hikes (PATH) Act of 2015 was passed by Congress and has now been signed into law by President Obama. This act extends and makes permanent the IRA Charitable Rollover for 2015 and beyond. If you have not already taken your 2015 Required Minimum Distribution, you will need to act fast to take advantage of this opportunity this year.

The new law does not have an expiration date. It is retroactive to Jan. 1, 2015, and will be in effect for the remainder of 2015 and beyond.

charitable-ira-rollover-Donors aged 70½ or older who move up to $100,000 from their IRAs directly to qualified charities will not have to pay income tax on the money. It is important that the funds transfer directly from your IRA custodian to Benedictine College in order to avoid a taxable event.

 

 

Here is a recap of the IRA charitable rollover rules:

  • The donor is age 70½ or older on the day of the gift.
  • The donor transfers up to $100,000 directly from the donor’s IRA to Benedictine College or any other registered charity. This opportunity applies only to IRAs and not to other types of retirement plans.
  • You pay no income tax on the gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your tax deductions.
  • The gift can satisfy all or part of the required minimum distribution for the year.
  • The gift may not be used to fund a gift annuity, charitable remainder trust, donor advised fund or private foundation.
  • You may not receive any goods or services in return for the rollover gift in order to qualify for tax-free treatment.
  • If you have made a gift of up to $100,000 directly from an IRA in 2015, the gift will qualify under the new law. Please visit with your IRA custodian in order to verify your transfer in light of this new legislation.

You can find more information on the Benedictine College Planned Giving webpage. Please contact the Benedictine College Planned Giving if you have questions about this wonderful opportunity to support the mission of Benedictine College. IRA transfers can be directed to the program or activity of your choice. Contact 913-360-7363 or tandrews@benedictine.edu for more information.