Dear Distric Governors, 

Please pass this note along to your district's TRF Chair, Annual Giving Chair & Permanent Fund Chair! It might even be worth sending to club presidents...and a mention in your governor's newsletter.

It is not often that the U.S. government and IRS provide us with a unique fund development opportunity but that is just what has happened in recent weeks. 

Between now and December 31, 2005, individuals are allowed to make withdrawals from IRA’s, 401K’s or other tax deferred accounts, give the proceeds to a recognized charity such as The Rotary Foundation and not pay any penalty or tax on the funds withdrawn.  The 50% cap has also been waived so that an individual can withdraw and contribute an amount equal to their Adjusted Gross Income.  If the tax benefit can not be completely utilized in one year, it can be carried over up to 5 years .

Each individual's tax situation is different, thus, to be certain of the benefits provided by the Katrina Tax Relief Act please consult your own tax advisors before making a retirement fund withdrawal. 

This provides those of us who are working in TRF fund development an outstanding opportunity to approach Rotarians who might have substantial tax deferred accounts that might benefit from making a major gift that would provide them with tax relief.  This might be just the catalyst that some Rotarians have been looking for to make a significant gift to the Permanent Fund or Annual Programs Fund (possibly to provide a matching gift opportunity for others in their district).

There is to be further information coming from TRF that will be passed along to each of you as soon as it is received.  However, since the “window of opportunity” is very narrow – less than 90 days to make this happen – we should all begin to work NOW to see if there are Rotarians in our clubs and districts that might benefit from this opportunity which would in turn benefit The Rotary Foundation.  Specific questions can be directed to TRF Planned Giving Officer Karena Bierman at 847-866-3100 or biermank@rotaryintl.org or Michael Smith at 847-866-3220 or smithmi@rotaryintl.org.

David Lusty, Rotary Foundation Major Gifts Advisor - Zone 30 North

P. O. Box 1079
Athens, Ohio 45701-1079
Phone: 740-593-6500
Fax: 740-593-6069
E-mail: lusty@frognet.net