2013 IRA Rollover

The “American Taxpayer Relief Act of 2012,” passed by the U.S. Congress and signed into law by the President early in January 2013, provides a benefit available to those who wish to make a gift to a charitable organization from their IRA.

Congress extended the Charitable IRA Rollover through December 31, 2013, which means that donors age 70½ or older can ask their IRA custodian to transfer up to $100,000 in 2013 to a public charity, such as the seminary. The transfer will be a tax-free transfer to the public charity and thus equivalent to a 100 percent charitable deduction.

To learn more about this opportunity, please contact the Rev. John Puotinen, Vice President for Philanthropy, at 215.248.7304, or Larry House, Senior Philanthropic Advisor, at 215.248.7390

As in all cases, consult your own advisors who alone must assume final responsibility in advising you whether or not this gift is appropriate in your unique circumstance.