The Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 has extended the IRA Charitable Rollover for 2010 and 2011. This Act allows individuals 70 1/2 and older to make direct transfers to 501(c)3 charities, without having to count the transfers as income for federal tax purposes.

St. John Villa Academy is a qualified charity and asks our supporters who fall into this age group to seriously consider a contribution at this time. We will be happy to support you in every way possible to pursue this mutually beneficial opportunity.

Provisions of the Bill discussed above specifically include:

1) The gift must be transferred directly from the IRA Manager to the charity.
2) The donor must be at least 70 1/2 years old.
3) The contribution must be an outright gift.
4) Transfers must be from an IRA. Retirement assets in a 401k or 403b must first be rolled into an IRA, then they can be transferred directly to St. John Villa Academy.
5) The donation can be made in cash or securities.

Click here for a list of Frequently Asked Questions regarding this Act and the process.

Please contact Deborah Caldwell, Director of Development and Alumni Relations, via email at dcaldwell@sjva.org or phone 718-447-4150 ext 130 for more information.