Overview
There's good news for individuals ages 70½ or older who have individual retirement accounts. Thanks to the extended charitable IRA legislation, you can once again make outright gifts using traditional or Roth IRA funds without tax complications now through December 31, 2009.

If you are required to receive minimum distributions from your IRA and you do not need the money for personal use, consider using those funds as a charitable gift. While you cannot claim a charitable deduction for the IRA gifts, you will not pay income tax on this gift.

The Benefits
• You may transfer up to $100,000 directly from your IRA.
• In most cases, the transfer counts toward your minimum required distributions.
• The gift generates neither taxable income nor a tax deduction, so even those who do not itemize their tax returns receive the benefit.
• The distributions may be in addition to, or fulfill, any charitable giving you have already planned.

You may take advantage of this type of gift if
• You are age 70½ or older;
• Your IRA gifts total $100,000 or less each year in 2008 and 2009;
• You transfer funds directly from an IRA to a non-profit organization;
• You transfer the gifts outright and directly to one or more public charities.

How Do I Make My Gift to MNA?
Simply contact your IRA trustee and obtain directions for making a transfer directly to MNA. Your trustee will require a mailing address and tax identification number for MNA:

Museum of Northern Arizona
3101 N. Fort Valley Road
Flagstaff, AZ 86001-8348
EIN: 86-0098920

Please notify us of the timing of your gift and the name of your IRA trustee by contacting Stacy Murison, Development Director, at (928) 774-5213 ext. 270 or smurison@mna.mus.az.us

Reminder
• The rollover is for outright gifts only
• Distributions to private foundations, donor advised funds, or supporting organizations do not qualify.


We encourage you to consult with your tax or financial advisor.