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New Tax Benefits

In August 2007, a Federal law was passed creating a new tax incentive for charitable giving. For donors seventy-and-a-half years old or older, the Pension Protection Act of 2006 encourages financial contributions to charitable organizations in the United States, providing a unique opportunity to make a gift to the Society.

Under the new provisions, you can make a gift using funds from your individual retirement account (IRA), Roth IRA, or rollover IRA without undesirable tax consequences. Prior to this legislation, donors had to report any amount taken from his or her IRA as taxable income. A charitable deduction could be taken but only up to 50 percent of the adjusted gross income.

With this new law in effect, IRA gifts can be accomplished without tax complications and you can make your gift now, while you can enjoy the benefits of your generosity. You are able to take advantage of this new tax incentive both in 2006 and 2007.

If you are interested in learning more about supporting the New England Historic Genealogical Society through your individual retirement account and can satisfy the following conditions, please contact Claudia Woods in our Development Office at 617-266-1238.

Prerequisites to qualify:
Seventy-and-a-half years old or older
Gift is made on or before December 31, 2007
Funds are transferred directly from an IRA or Rollover IRA
Gift is $100,000 or less each year

Thank you for your interest in and support of the New England Historic Genealogical Society.