Accounts offered to capitalize on IRA rollover opportunity
The Columbus Jewish Foundation is now offering a creative way to capitalize on the soon-to-expire IRA Rollover opportunity with "ACTEF Accounts."
The Foundation is urging donors to consider “front-ending” their future Federation campaign gifts by setting up an Annual Campaign Term Endowment Fund (ACTEF account) at the Foundation.
The legislation that permits IRA Rollovers to be distributed to charities without incurring income taxes terminates on December 31, 2011-- so now is a prime time and unique opportunity to pre-fund future annual campaign gifts with an Rollover gift, according to the Foundation.
"An ACTEF account is a temporary holding fund that you can establish to pre-pay your Columbus Jewish Federation campaign gifts," said Foundation executive director Jackie Jacobs. "ACTEF accounts are ideal for donors who wish to take advantage of IRA Rollover opportunities that may not be available next year."
ACTEF accounts enable Federation donors to make advance payments on multiples of their annual Federation campaign gifts. Annual distributions from each ACTEF account will be made to the Federation until the account is depleted. Each distribution to the Federation will be credited to that year’s campaign in the name of the donor.
Donors aged 70 or older can transfer up to $100,000 to an ACTEF account in the 2011 calendar year using traditional IRA Rollovers.
Contact the Columbus Jewish Foundation at 614-338-2365 for more information.