Dear colleagues:

As the end of the calendar year approaches, it is a good time to consider making contributions to causes that you value, like Emeriti House. Such contributions qualify for Indiana State tax credits of $200 on a joint return (for a $400 donation) or $100 on a single return (for a $200 donation). Such credits directly reduce the state tax you would owe and also qualify as deductions on your federal return if you itemize.

Contributions to Emeriti House can be made through an account at the IU Foundation established by the Office of Academic Affairs and Dean of the Faculties. The Emeriti House account number is 32-IU04-075. You can send any donations directly to the IU Foundation in a variety of ways (http://www.iuf.indiana.edu) or call the Foundation at 812-855-8311.

Ever more varied and numerous activities at Emeriti House have flourished in the past several years, attendance is growing rapidly, and our funding needs are increasing as well: to add to and enhance House facilities (chairs, kitchenware, etc.), and for regular and special receptions. We welcome your support of and involvement with Emeriti House.

Thank you and best regards,

Dick

Richard E. Stryker, Director

Note: The reenacted IRA Charitable Rollover provision permits individuals age 70½ and above to make charitable donations of up to $100,000 from IRAs and Roth IRAs without having to count the distributions as taxable income. The IRA Charitable Rollover is intended to benefit donors of all incomes. Taxpayers age 70½ and older are required to make annual distributions from their IRAs. The distributions are included in the taxpayers adjusted gross income (AGI), and taxpayers pay taxes on them. The IRA Charitable Rollover permits taxpayers to make donations directly to charitable organizations from their IRAs without counting them as part of their AGI and, consequently, without paying taxes on them. Only contributions made between January 1, 2008 and December 31, 2009, are eligible for the enhanced tax benefit.

See http://www.independentsector.org/programs/gr/irarollover.html and check with your own tax advisor for accuracy and for more details. (I am indebted to Louanna Cocchiarella for this information.)