Tax Incentive Tax Incentive

The Pension Protection Act of 2006 encourages financial support of charitable organizations across the United States by providing tax incentives for donors age
70 1/2 or older. The newly extended law allows individuals to make­ a gift from their traditional or Roth IRA, up to $100,000, without tax implications in both 2008 and 2009. ­

"I appreciate the benefits the Pension Protection Act provides for me in being able to access my IRA funds without penalty to reach my goal of establishing a Clark College scholarship endowment. As a community member, I recognize this as a monumental opportunity to support the outstanding value that Clark College provides for students as well as the greater community. I would encourage everyone to take advantage of this brief window of opportunity which will end in December 2007."
—Vernon F. Peterson, donor and Foundation Board member


­
­­You and your spouse may contribute in both 2008 and 2009 by December 31 if:
You are 70 1/2 years of age or older
  • Your gift is $100,000 or less each year
  • Your gift is made on or before December 31, 2008 (and again in 2009)
  • You transfer the gift outright to one or more public charities
Make a gift

­You may wish to consult a tax prof­essional before making a gift under this new law. For more information about making a gift to the Clark College Foundation, contact the Foundation's Director of Major and Planned Gifts, Daniel Lee, at dlee@clark.edu or 360.992.2542.