A note to our Friends who are age 70 ½ or older and are considering a contribution to the Futures in Education Foundation.

Under the reinstated charitable IRA legislation, individuals age 70 ½ or older, with “well-funded” traditional IRAs, to donate up to $100,000 from their Individual Retirement Accounts tax free each year to charitable causes.  It was effective for “qualified charitable distributions” made in recent tax years, has been extended through December 31st, 2009.  Since people older than 70 ½ are required to take minimum distributions from their IRAs, which are taxed under current rules, it makes philanthropic and economic sense to gift some or all of your minimum distribution to a qualified not-for-profit institution, such as the Futures in Education or you could also create a new fund to perpetually endow your appeal gift or establish a fund to benefit future Angel students in the Alive in Hope Foundation.  

   This law offers donors to the Futures in Education an important opportunity to make significant gifts that they may not have felt able to make.  Such gifts can provide substantial support for Futures' mission.

For more information, we suggest that you contact your financial advisor or call Futures in Education Office 718-965-7340.  Thank you.

We encourage anyone considering taking advantage of this new

law to consult their own tax advisors.  The law is complex and

it is important to meet the specific provisions of the law.