If you are 70 ½ or older, a newly reinstated law allows you to direct up to $100,000 from your traditional or Roth IRA tax-free to a charitable organization such as AIPAC’s affiliated foundation. This is a wonderful opportunity to establish an endowment fund or add to an already existing fund. This cannot be used for your AIPAC annual campaign contribution. You will want to act soon to take advantage of this limited time opportunity. Contact your personal financial advisor or AIPAC's Endowment Director Jodi Kurtis at (202) 639-5243 or jkurtis@aipac.org.

How does this work?

You must follow the requirements, including:

• The gift may be any amount, up to a maximum of $100,000 per year.
• The gift must be an outright gift, not a planned or deferred gift.
• You may not receive a benefit in return for the gift.
• You must be at least 70.5 years of age.
• The gift must be from your traditional or Roth IRA, as opposed to another type of pension plan.
• The amount you give must be otherwise taxable if distributed directly to you.
• You may make a gift between now and December 31, 2008, and again between January 1 and December 31, 2009, when the law expires.
• You must make the gift directly to a charity by instructing your IRA trustee or custodian to distribute the funds directly to AIEF or the charitable organization of your choice.
• The gift must be to a qualifying public charity such as AIEF. Gifts to donor advised funds, supporting organizations or private foundations are not eligible.

Who should take advantage of the Charitable IRA Rollover?

Donors in an excellent position to take advantage of the IRA rollover include those:

• who are already giving at their deduction limit.
• whose income level causes the phase-out of their exemptions or itemized deductions.
• who do not itemize their deductions.
• for whom additional income will cause more of their Social Security income to be taxed.
• who wish to remove up to $100,000 from their taxable estate.
• who would like to avoid the possibility that the government will impose taxes of up to 75% on IRA funds not distributed during the donor's lifetime.