IRA Rollover

You Can Use Your IRA to Make a Tax-Free Gift to the ENMU Foundation

Here's some exciting news that can help you plan a tax-effective stategy for your IRA distributions in 2007 while you support ENMU. The new Pension Protection Act lets you make an annual gift to charity from your IRA-entirely tax-free.

And there's more good news: your IRA charitable distribution will satisfy all or part of your required minimum IRA distribution for the year. So you can use your IRA to make your charitable gifts this year and avoid tax on your required IRA distribution.

You can use your IRA charitable distribution to make your annual gift, satisfy your current pledge, or establish or add to a named scholarship or other departmental fund at ENMU.

Some restrictions do apply:

• You must be 70 1/2 years of age
  
• Tax benefits apply for gifts up to $100,000 per person per year
  
• You can make these IRA charitable distributions in 2007 only
  
• You must instruct your IRA Account Administrator to make the distribution directly to charity
  
• Only outright charitable gifts can be made (not life-income gifts such as charitable gift annuities)
  
• Your gift must be made to a public charity such as the ENMU Foundation (not to donor-advised funds or private foundations)
  

Here's How to Make Your IRA Charitable Distribution to the ENMU Foundation:

The Pension Protection Act provides that eligible IRA owners may obtain the tax advantages of making charitable distributions if the payments are made directly from the IRA account itself. You must instruct your IRA administrator to make a direct distribution to ENMU. Contact your IRA administrator to find out if they have a form you must use.

When instructing your IRA administrator to make a charitable distribution:

• Instruct the administrator to send the distribution check to the following address:

  Eastern New Mexico University Foundation
  ENMU Station 8
  1500 South Avenue K
  Portales, NM 88130

• Instruct the administrator to identify you as the IRA account owner/donor by name and address on its cover letter
  
• Inform ENMU that you are making an IRA charitable distribution by contacting our office toll free at 888.291.5524, or call 575.562.2412, or by emailing us at enmu.foundation@enmu.edu. Please contact us if you need more information about this timely opportunity.