Bettendorf, Iowa – In a time of economic downturn and despair, The Financial Rescue Package President Bush signed last week could provide relief to and taxpayers, and much needed support to nonprofit organizations. The Legislation included a two-year extension of the Charitable IRA Rollover; making it easier for Quad Citians to give to causes they care about.

“It is a win-win – for people who would rather give to charity than pay taxes and for the nonprofit organizations they choose to support,” said Susan Skora, Community Foundation president/CEO.

The IRA Charitable Rollover has been extended through December 31, 2009, and it enables donors who are 70 ½ or older to make direct transfers up to $100,000 per year to eligible charities. A single person can transfer $200,000 free from federal tax, and a married couple can transfer up to $400,000 free from federal tax from separate accounts over a two-year period.

The Community Foundation can help donors execute the gift transfers and choose from more than 100 charitable fund options for their gift. Donor Advised Funds do not quality for tax-free IRA transfers, but funds designated to a particular organization do.

As an added benefit, Iowa taxpayers making donations to funds established for Iowa charities will receive an additional 20% income tax credit, under the Endow Iowa Tax Credit Program.

To learn how you can establish a permanent legacy in this community, please contact Ms. Skora by calling 563-326-2840 or by emailing susanskora@cfgrb.org.