Page 49 - Newsletter_Spring_2019

PLANNED GIVING

By Jennifer Southard • Vice President, Donor Services and Gift Planning, Maine Community Foundation
Editor’s Note: Periodically we like to feature a Planned Giving opportunity that is used often with our colleagues at the Maine Community
Foundation who are the overseers of the HHSAA Endowment Fund. is issue’s article is very interesting given the new tax laws and it is authored
by Jennifer Southard, MaineCF’s VP of Donor Services and Gift Planning. Please feel free to contact her directly or have your fi nancial advisor
contact her at the Maine Community Foundation. All information can be found on-line on MaineCF’s website.

IRA Charitable Rollover may help encourage gifts from older

classes
I have worked at the Maine Community Foundation for over 15 years and shortly after I
started I heard stories about the amazing high school alumni organization in place serving
Houlton High School. Not only are you keeping graduates connected to each other, but
you are also benefi ting future students through the growth of your scholarship funds.

One planned giving approach that might help older classes raise more gifts for your class
scholarship or family scholarship funds is the IRA Charitable Rollover.

With the 2017 Tax Act, it is anticipated that the number of taxpayers who itemize
deductions will decrease from about 37 million to 16 million. If you are one of those
people who no longer itemizes, have an IRA account, and have reached that magical
age of 70 ½, you may want to consider making your charitable donations directly from your IRA account. With an IRA
Charitable Rollover, you can gift up to $100,000 per year from your IRA account without having to include the gifted amount
as income on your tax return and the gift counts toward satisfying your required minimum distribution. You will not receive
an income tax deduction for the gift, but by not having to include the gifted amount on your tax return, you will reduce your
income for tax purposes. Reducing your income may also provide additional tax benefi ts as several other tax provisions are
based on your income level. Some of these include, your tax bracket, whether you pay taxes on Social Security, whether you
pay alternative minimum tax, and whether you pay a 3.8% Medicare tax on your investment income. If you follow the IRS
rules for an IRA Charitable Rollover, you may still receive a tax benefi t regardless of whether you itemize deductions or take the
standard deduction.

Please talk with your own fi nancial and/or legal advisors fi rst to determine if an IRA Charitable Rollover is a good fi t for you.
After that, you can work with your IRA custodian to determine which forms to complete to be sure the gifts are paid directly
from the IRA custodian to the nonprofi t organization.

Jennifer Southard
Vice President, Donor Services and Gift Planning, Maine Community Foundation
Monthly Gift

REUNION 2020! CLASS REUNION REMINDERS

Class of 59 60th Reunion
IT WILL BE HERE BEFORE YOU KNOW IT! July 6, 2019 2:00 pm at Courtyard Cafe on Main Street in Houlton
Class of 64 55th Reunion
Mark your calendar now and plan to be in August 25, 2019 1:00 pm at the Houlton Community Golf Course

Houlton for the next Multi Class Reunion. Class of 69 50th Reunion
August 24, 2019 5:30 pm Shiretown Inn & Suites
Reunion 2020 will be held from July 4-11, 2020. Class of 79 40th Reunion
July 5, 2019 5:00pm at the Meduxnekeag Ramblers Snowsled Club on
the Wiley Rd Littleton, ME.
SEE YOU THERE!! Class of 89 30th Reunion
July 6, 2019 6:00pm at the Meduxnekeag Ramblers Snowmobile Club

www.houltonalumni.com PAGE 49