St. Mary- St. Augustine Catholic Grade School

 
 

Annual Fund Drive update

The kick-off for the 2008-2008 Annual Fund Drive for St. Mary – St. Augustine Catholic Elementary School will be in February of 2009. For those wishing to contribute by Dec. 31 for tax purposes, please send your contribution to the school office (in an envelope marked Annual Fund 2008-09) and you will be sent an acknowledgement of the gift.

Donation information for individuals 70½ and older

Thanks to a provision in the Emergency Economic Stabilization Act of 2008 that was passed in October, older Americans are once again able to contribute directly to public charities from their individual retirement accounts (IRAs). The IRA Charitable Rollover tax incentive, which is available through the end of 2009, allows individuals aged 70-1/2 and older to donate up to $100,000 per year from their Individual Retirement Accounts (IRAs) and Roth IRAs to public charities without having to count the distributions as taxable income. Since its original enactment in August 2006, the IRA Charitable Rollover has given seniors the opportunity to give back to their communities by eliminating the barrier in the tax law that had discouraged transfers from individual retirement accounts to charities. The IRA Charitable Rollover allows older Americans of all incomes to make millions of dollars of new contributions to organizations that benefit people and organizations in need every day. Now is your opportunity - as a donor - to take advantage of this valuable incentive. How does the IRA Rollover Work? Taxpayers age 70-1/2 and older are required to make annual distributions from their IRAs. The distributions are included in their adjusted gross income (AGI), and the taxpayers pay taxes on them. The IRA Charitable Rollover permits taxpayers to make donations directly to charitable organizations from their IRAs without counting them as part of their AGI and, consequently, without paying taxes on them. We encourage you to check into this today with your financial advisor.

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St. Mary's Parish
St. Augustine of Canterbury

St Mary-St. Augustine Catholic
Grade School
1900 West Belle Street
Belleville, IL. 62226
Phone: 618-234-4958
Fax: 618-234-3360
Principal:
Ms. Kimberly Ruef


principal@smsabelleville.org

 
 
 
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