- Charitable gift annuities established before the end of October may result in higher charitable tax deductions than gifts made after October due to a recent IRS rate change. Gift annuities are a wonderful gift option that provide secure fixed income, realized significant tax breaks and offer competitive rates of income. For a personalized illustration and more information please contact the Gift Planning Office at: 518 388-6156 or email cavaliej@union.edu.
- The Pension Protection Act of 2006 included legislation allowing individuals to make charitable gifts utilizing their IRAs. Unless new legislation is passed, this opportunity expires on December 31, 2007. Many Union alumni have taken advantage of this ruling to make annual and increased gifts to the College; this may be the best way for you to support Union.
To qualify:
- Donors must be 70 ½ years of age or older;
- Transfers must go directly from IRAs to Union;
- Gifts cannot exceed $100,000 per taxpayer per year; and
- Gifts must be outright and not for a plan that would provide income to the donor.
For additional information please contact the Gift Planning Office at 518 388-6156 or email cavaliej@union.edu.