Mary Boaz, director of planned giving in UALR’s Department of Development, said recent legislation has presented a new tax-saving opportunity for UALR donors aged 70 and a half years old and older.

The Pension Protection Act of 2006 (PPA 2006) allows IRA rollovers to a qualified charity during a donor’s life without undesirable federal tax effects.  A donor may roll over up to $100,000 per year in 2008 and 2009.  A gift made to UALR in this manner is excluded from gross income.  It will also count against a minimum distribution requirement. The rolled-over amount is excluded from your income so there is no income tax deduction for the gift.

For a UALR donor to qualify, he or she must instruct their IRA manager to rollover gift funds directly to the University of Arkansas Foundation Inc. for the benefit of UALR in order to receive the favorable tax treatment.

For more information, contact Boaz at 501.569.8738.