Donations

Incentives for Taxpayers

The Pension Protection Act of 2006 includes incentives for taxpayers to give charitable gifts out of their IRAs; something that could benefit many taxpayers and charitable organizations.
Taxpayers who are at least age 70 1/2 can transfer up to $100,000 per year for 2006 and 2007 from their IRA to any qualified public charity, such as Concord Neighborhood Center. The new law will appeal to IRA owners who are “charitably inclined,” and to those who are frustrated with the requirement that they must take “minimum required distributions” (MRD) from their IRAs. The transfer to charity will count towards the MRD, meaning the donor does not pay any federal, state or county taxes on the distribution.
Concord Neighborhood Center would pay no income taxes on your gift and would use the entire distribution to fund the mission of the organization. Your give would result in positive outcomes for all families and children building upon the strength of the Southside.