Dear Friend of WHQR:
Good news! You can still take advantage of the Charitable IRA Rollover before it expires on December 31st. This special giving opportunity offers attractive benefits to you and will help support the good work of WHQR.
Here’s how it works:
- You must be at least 70 ½ or older at the time of the transfer.
- You will need to contact your administrator and request a direct transfer be made to WHQR from your traditional IRA or (under certain circumstances) a Roth IRA. You can transfer up to a maximum of $100,000.
- Your direct transfer to WHQR counts toward your required minimum distribution (RMD) and is excluded from your gross income for federal tax purposes.
- The transfer can be made by check or by electronic transfer; however, checks must be must be postmarked or hand-delivered by December 31st, and transfers must be received by December 31, 2011. Remember that the 31st is a Sunday, so shoot for the 29th to make sure.
- Since the entire gift must be used for the station’s charitable purposes, no goods or services can be offered in exchange for the gift.
- For your convenience, a sample letter of instruction that you can send to your plan provider is given below.
- For more information, please contact your financial advisor (see below**), or feel free to contact me directly via email.
A sample letter for transfer of IRA funds is below. You may also find this information helpful, from a website at Northern Arizona University. In all cases, please consult with you financial adviser.
Thank you for your consideration of WHQR.
Sincerely,
T. Cleve Callison, III
Station Manager, WHQR
**The following legal firms in the Wilmington area are believed to have experience in the areas of charitable giving. This is not necessarily an endorsement of each; the best place to start is likely to be a financial adviser you already know and trust.
Murchison, Taylor & Gibson
16 North 5th Avenue, Wilmington, NC 28401, 910-763-2426
Ward and Smith, P.A.
127 Racine Drive, University Corporate Center, Wilmington, North Carolina, 910-794-4800
Hedrick Gardner Kincheloe & Garafalo LLP
1838 Sir Tyler Drive, Suite 200, Wilmington, NC 28405, 910-509-9664
Saffo Law Firm, P.C.
5900-B Oleander Drive, Wilmington, NC 28403, 910-256-3364
Nunalee & Nunalee, L.L.P.
Landfall Executive Suites, 1213 Culbreth Drive, Wilmington, NC 28405-3639, 910-799-5539
Smith Moore Leatherwood
300 North 3rd Street, Suite 301, Wilmington, NC 28401, 910-815-7100
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SAMPLE DRAFT OF EMAIL OR LETTER TO YOUR IRA CUSTODIAN
[date]
[company and address]
Dear Sir or Madam:
I wish to make a direct charitable distribution from my Individual Retirement Account # (_______________________) as provided by The Tax Relief Unemployment Insurance Reauthorization and Job Creation Act of 2010.
Please issue a check in the amount of $________ payable to "Friends of Public Radio", federal ID # 58-1399301 at the following address:
WHQR/Friends of Public Radio
254 North Front Street, Suite 300
Wilmington, NC 28401
Please wire funds in the amount of $______________ payable to "Friends of Public Radio" as indicated below:
Account Name:
Account No.:
DTC#:
Broker and Brokerage Firm:
Reference Name or Payment Details: [your name] and Charitable IRA Rollover
In your transmittal to the charity, please include my name and address as the donor of record in connect with this transfer. Please copy me on your transmittal.
Thank you for your assistance in this matter.
Sincerely,
[Your name]
[your name, address, and telephone number]
Cc:
Barbara Bush
Business Manager, WHQR Public Radio
254 North Front Street, Suite 300
Wilmington, NC 28401
910-343-1640 x210