Pension Protection Act Charitable Contribution Provision extended!
The ARRL Development Office notes that legislation was signed on October 3, 2008 in conjunction with the Economic Stimulus Bill of 2008 that includes the immediate and retroactive extension of the popular charitable contribution provision of the Pension Protection Act (PPA) of 2006.
Effective immediately certain IRA holders (aged 70-1/2) may give something back to Amateur Radio by donating to ARRL including the Spectrum Defense Fund, to the ARRL Education and Technology Fund, to the ARRL Diamond Club, which provides flexible funding for a variety of programs not supported by member dues. Donors may contribute up to $100,000 in 2008 and again in 2009.
The charitable contribution provision of the Pension Protection Act contains the following requirements:
- Contributions must come directly from an IRA to ARRL
- Only individuals who are at least 70-1/2 may participate
- Contributions may come from an IRA or Roth IRA directly to ARRL
- Contributions to ARRL may not be processed through a donor-advised fund, gift annuity or trust
- Contributions are limited to $100,000
- Contribution may be made annually during each of the next two years -- by December 31, 2008 and next year by December; 31, 2009
- A direct contribution from an IRA to a qualified organization is excluded from income.
- Donors should consult with their financial advisor before taking advantage of this option.
Page last modified: 04:28 PM, 30 Oct 2008 ET
Page author: mhobart@arrl.org
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