The Catholic High School Foundation's mission is to provide need-based tuition assistance to boys and to supplement teachers' salaries.
For information on the Capital Campaign, please contact Anne Carter at (501) 664-4625 or [email protected]
PLEASE NOTE: ANTICIPATION OF FEDERAL TAX LAW AMENDMENTS PERMITTING CHARITABLE ROLLOVER OF IRA RMD
We are anticipating that, prior to December 31, 2014, Congress will enact legislation that will once again permit Catholic High alumni, donors and friends to revisit their IRAs and consider the possibility of donating ‘qualified charitable distributions’ (of up to $100,000) directly from their IRA to the CHS Foundation.
A significant portion of this newly-revised tax law, we anticipate, will permit generous donors over age 70 ½ to once again transfer any amount up to $100,000 this year to CHS Foundation tax free out of their annual IRA distribution. We anticipate that the new federal tax law enacted will permit donors to accomplish this by year-end 2014.
This law, if enacted, is simply a tax extension of the law that was originally set into motion in August 2006; at the same time, it may provide the unique opportunity for our alumni and friends to make generous donations to the university foundation from an IRA that otherwise might possibly remain untouched for the foreseeable future.
During the initial timeframe of the Charitable IRA Rollover, we found that many donors made their annual contributions directly from their IRAs – thereby avoiding the necessity to give a donation out of their fixed income. This opportunity may once again become available through the end of this calendar year.
In prior years, husbands and wives could each respectively direct that the qualified charitable distribution(s), totaling up to $100,000 from each of their separate IRAs, benefit CHS Foundation, without having to pay any taxes or fees on the transfers.
Sound interesting? For more information, please contact Anne Carter, [email protected] or (501) 664-4625.
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