Make the gift of a lifetime:
Turning retirement accounts into charitable good

There is good news for community foundation donors over 70 1/2 and for the communities they care about. A new law makes it possible to give individual retirement account (IRA) assets to charity during 2006 and 2007, without first counting it as income and paying income tax. Formerly, all lifetime distributions from IRAs were taxed- even those given to charity.
This means that, now, donors can give far more with less. This may be an attractive giving option for you if you are:

• Over 70 1/2 and now receiving minimum IRA distributions-but do not need the extra income.
• Interested in making a significant lifetime gift.

In 2006 and 2007, the new law allows those age 70 1/2 and older to transfer up to $100,000 from an IRA to charity this year-and another $100,000 next year-tax-free. If married, each spouse can transfer $100,000 per year from his or her IRA.

Using IRA assets to make a gift during your life, as opposed to giving via bequest in your will, enables you to experience the joy of making a major gift.

"We're ready to help our donors take advantage of this legislation and make gifts during their lifetimes," said Beth Tevlin, Foundation executive director. "Our personalized service and local expertise helps donors address the issues most important to them."

For more information on the charitable giving legislation and the Charitable IRA opportunity, please contact Beth Tevlin at 812-232-2234 or visit our website at www.wvcf.com.