CURRENT HIGHLIGHTS:
Philanthropy in the News
-On December 17th, 2010, the Tax Relief Act of 2010 was passed by Congress and signed by the President. Included among the provisions in the agreement is the reinstatement of a popular benefit to donors from years past, the IRA Charitable Rollover. The rollover provision, extended for the 2011 tax year, allows individuals aged 70 1/2 and older to transfer up to $100,000 from their IRA to a nonprofit organization without having to pay income tax on the distribution. We encourage you to talk to your financial or tax advisor if you are interested in this giving opportunity. For more information, contact Jessica Favret, director of development, at (410) 727-3255, ext. 1006 or jfavret@cristoreybalt.org.
-In current bear market conditions financial planners are increasingly recommending charitable lead trusts as a giving option for donors. “What makes them especially attractive now is an historically low special rate that the Internal Revenue Service uses to predict how much your assets will grow in the trust. Estate-planning lawyers call it the ‘hurdle’ rate because investment gains beyond it can generally pass to heirs tax-free. The rate, which is adjusted monthly, remains locked in for the length of the trust.” Read "Giving Smarter While Helping Your Estate" in the Wall Street Journal for more information, and visit our new webpage on planned giving.
The Aysha Ring Memorial Scholarship Endowment
The Aysha Ring Memorial Scholarship Endowment has been established so that Aysha's spirit may live on in the hearts and minds of members of the Cristo Rey Jesuit community.
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