Important Gift Opportunity

Charitable IRA Legislation Permits Tax-Free Distribution to the University of Massachusetts Medical School and UMass Memorial Health Care

This is important legislation if:

• You are age 70 1/2 or older
• Your Minimum Required Distribution is more than you need for income
• Your charitable gifts this year have bumped your adjusted gross income into the 50% ceiling
• You want to play an important role in advancing medical research, health care and/or health sciences education

Now through December 31, 2009, this legislation enables you to positively impact lives and allows you to:

• Transfer a portion of your Minimum Required Distribution (MRD) to the UMass Memorial Foundation.
• Exclude the donated portion of your IRA withdrawal from your taxable income.
• Benefit even if you do not itemize your deductions since the gift does not add to taxable income or serve as a deduction.
• Transfer up to $100,000 directly from your IRA in 2008 and 2009 without additional tax consequences.

How?
Funds must be transferred directly from your IRA.  Notify your administrator and the UMass Memorial Foundation of your intention.  You can use these sample letters to notify your IRA administrator to make a charitable distribution to the UMass Memorial Foundation.

Please contact Carolyn J. Flynn, Assistant Vice Chancellor for Planned Giving at 617-287-5336 or email carolyn.flynn@umb.edu with any questions or to discuss further.