IRA Charitable Rollover for 2010 and 2011

    Congress has approved a broad tax package that includes reinstatement of the IRA Charitable Rollover giving incentive.  The IRA Rollover allows donors 70 ½ and older to make up to $100,000 in charitable contributions directly from their individual retirement accounts (IRA), without paying federal taxes on the withdrawal. This incentive is retroactively reinstated for gifts made during 2010, and extended throughout 2011. Gifts made by January 31, 2011 may be recognized as 2010 gifts for tax purposes.

    Please note, though, that such direct gifts can not be claimed on your income tax return as a charitable donation. Nonetheless, this may be a good tax strategy for those taxpayers who must take required minimum distributions but don’t wish to increase their income with the distribution. Again, they won't have to pay taxes on the IRA distributions that are directly donated to a charity.

       The IRA donation rollover also might be a good strategy for individuals who face donation limits based on their income. Generally, you cannot donate an amount that exceeds 50 percent of your adjusted gross income. But when the money goes directly to the charity from the donor’s IRA, it doesn't count against that limit because it's not included in the filer's gross income computation.

    As always, one should consult their tax advisor about any tax planning strategies.

IRA Charitable Rollover - Highlights

* Permits donors age 70 ½ and older to make tax-free charitable gifts directly from their IRAs
* Caps qualifying gifts to an annual ceiling of $100,000
* For 2010 tax purposes, applies to gifts made January 1, 2010 through January 31, 2011
* For 2011, this incentive expires December 31, 2011
* The donation must be made directly to the charity. Please consult your IRA administrator to obtain the appropriate forms for this transaction.
* The donor will be required to provide the Federal Tax Identification number for the charity.  Desert Cancer Foundation’s Tax ID number is 33-0648823.

Please call Desert Cancer Foundation at 760-773-6554 if you would like more information on giving from your IRA.

Santa Rosa Country Club Pink Ribbon Golf Tournament

On January 27, 2011, the ladies of Santa Rosa Country Club held their annual Pink luncheon to raise funds to battle breast cancer.  For the second year, they selected the Suzanne Jackson Breast Cancer Fund, which provides early breast cancer detection services to local residents at no cost, to be the beneficiary of the event.  The tournament sold out and 112 pink decked golfers enjoyed the tournament under clear and crisp desert skies.  Event organizers (pictured ) put together a fabulous luncheon with many raffle prizes following the tourney.  Pictured below in the special pink golf cart is Desert Cancer Foundation executive director, Peggy Bilous, surround by 17 breast cancer survivors who participated in the festivities.  The event raised nearly $5,000 for the Suzanne Jackson Breast Cancer Fund.                           
 

 DR. GEORGE MEMORIAL CAR SHOW

The Dr. George Memorial Car Show will be held at the Indian Wells Tennis Garden on Saturday, February 12, 2011 .  Over 10,000 spectators will be able to appreciate more than 900 cars in exhibition and enjoyed delicious food and great entertainment. The Palm Springs Cruisin' Association has donated more than $320,000 to Desert Cancer Foundation raised at the event.

Classic Tourney Benefits DCF
This year, Desert Classic Charities donated $19,000 for cancer treatment and the Suzanne Jackson Breast Cancer Fund. The proceeds were from the 2010 Bob Hope Classic Golf Tournament.

Pooches Go Pink for

Paint El Paseo Pink Walk

on October 8th

Get into the spirit of the 4th Annual Walk for Breast Cancer

by bringing your pooch.  For a donation of $10 your doggie pal can

sport a pink bandana for breast cancer awareness.  Walk registration

begins at 8:30 a.m. at the Gardens on El Paseo.  

For more info call us at 760-773-6554

DCF Receives $25,000 Grant from H.N. and Frances C. Berger Foundation

On February 2010,  the Foundation was selected as the latest recipient of the KPSP Local 2 Coachella Valley Spotlight and received a $25,000 grant from the H.N. and Frances C. Berger Foundation.

ON THE PICTURE (LEFT TO RIGHT):  Joy Carley Skidd & Holly Tomaselli, DCF clients, Christ McGuire, Vice President of the H.N. and Frances C. Berger Foundation, Peter Wasserman and Bob Schenkman, DCF Board members, Otilio Lozano, DCF client, Peggy Bilous, DCF Executive Director, Maria Kiner, DCF Board Members and Steve Minium, KPSP Local 2 Executive Director of News, New Media and Brand.