Giving News
The IRA Charitable Rollover Extended…
As you have probably heard, Congress passed The American Taxpayer Relief Act of 2012 on January 1, 2013. The passing of this legislation has created two additional opportunities this year for donors to support a charitable cause through a direct transfer from their IRA, avoiding taxes on their donations, as it extends the IRA Charitable Rollover for 2012 and 2013.

What does this mean for you?
Donors age 70 ½ or older are once again eligible to transfer up to $100,000 from their IRA accounts directly to qualified charities without having to pay income taxes on that money. Due to the late extension, Congress provided two special transition rules:

• Qualified charitable distributions made before February 1, 2013 may be counted retroactively for the 2012 tax year.
• A taxpayer who took a distribution from an IRA account in December 2012 may make a contribution to a qualified charity before February 1, 2013 and treat this as a direct transfer.

With these special rules in effect, an individual can make two qualified charitable contributions up to $100,000 each in 2013 – one by January 31, 2013 for the 2012 tax year and another anytime between February 1, 2013 and December 31, 2013 for the 2013 tax year. Even more, these distributions can count towards the IRA’s required minimum distribution, and do not show up on the 1040 form as part of the taxpayer’s gross income.

Have questions? Contact Madeleine Melkonian, Senior Vice President for Institutional Advancement and College Relations at (718) 405-3237 or madeleine.melkonian@mountsaintvincent.edu

Annual Fund News
Alumnae/i giving to the 2012-2013 Annual Fund is over $635,000 from over 1,725 alums! Last year at this time, alumnae/i giving to the Annual Fund was $605,402 from 1,747 donors.

If you haven’t made your gift yet, don’t worry, you still have time! Please make your gift before June 30, 2013 to have it count towards the 2012-2013 Annual Fund!

Your generosity helps to support students by providing small class sizes, a beautiful campus, and resources that allow them to take full advantage of their time here. Please help us to not only reach our goal for this year, but to surpass it!

*Your gift does make a difference in the lives of our students! Over 1,725 alumnae/i have already donated about $30,000 more than they did last year at this time! (Giving as of 5/13/13)

Don’t forget that your gift to the Annual Fund counts towards your Reunion Class Gift if you graduated in a year ending in ‘3’ or ‘8’! Reunion Giving has contributed almost 31% of our Annual Fund thus far! 

But, Reunion Classes still haven’t reached their collective goals! 
Don’t forget to make your Reunion gift today and help your class surpass its goals! Check out our Reunion Giving page for more information about your class goals.

If you have any questions or concerns, please don’t hesitate to contact Nancy Totino, Director of Annual Giving at (718) 405-3252 or nancy.totino@mountsaintvincent.edu.