Elizabeth City, NC – December 5, 2013
Important giving update for those over 70½!
“… see that you also excel in the grace of giving.” 2 Corinthians 8:7b
Great news for givers like you … the Federal Government IRA Charitable Rollover tax incentive is still in place as a part of the overall tax relief benefits. At this time the Federal government has announced that this will not be renewed in 2014. However, that incentive is still in effect through December 31, 2013.
Please consult your tax advisor before making any decisions since individual situations vary and tax laws are in constant flux.
Individuals aged 70½ and older are allowed to donate up to $100,000 from their Individual Retirement Accounts (Traditional or Roth IRAs) to Mid-Atlantic Christian University or Mid-Atlantic Foundation without having to count the distributions as taxable income. This giving incentive is particularly beneficial to those individuals who do not itemize their tax deductions and would not otherwise have received any tax benefit for their charitable contributions.
Charitable contributions from an IRA must go directly to Mid-Atlantic. In other words, the donation must be submitted from the IRA trustee or broker made payable to Mid-Atlantic.
Each year Mid-Atlantic’s donors have taken advantage of this regulation. Give now! Only contributions made before December 31, 2013, are eligible for the enhanced tax benefit.
MACU’s Institutional Advancement department is at your service to help you design the stewardship plan that meets your desires and needs. Please consider a conversation with us about estate planning, endowments for scholarships, and other ways you can partner with us in training leaders for the future Church.
We thank you for your faithful support of Mid-Atlantic. Our alumni serve in 46 states, 1 territory, and 22 different countries. We educate ministers: many will serve in the churches and many will serve in the marketplace. We are empowered by your prayers. We are enabled by your giving.
|Mid-Atlantic Christian University is accredited by the Southern Association of Colleges and Schools Commission on Colleges to award certificates and associate and baccalaureate degrees. Contact the Commission on Colleges at 1866 Southern Lane, Decatur, Georgia 30033-4097 or call 404-679-4500 for questions about the accreditation of Mid-Atlantic Christian University.||Media Contact
D. Clay Perkins, Ph.D.