On December 17, 2010, President Obama signed into law the "Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010." A little known provision in this legislation allows people who have reached the age of 70 ½ to make tax-free "qualified charitable distributions" of up to $100,000 annually from their IRAs. Through January 31, 2011, qualified charitable distributions may be made and counted towards their 2010 tax year.

January is still not too late for a generous giver to make a substantial contribution to your ministry and for them to deduct their gift on their 2010 taxes. If someone in your ministry comes to mind, ask them to have a cup of coffee with you and explore this possibility with them.

Here is a link to an article which explains the law in more detail. If you have any further questions, please consult your tax advisor.

http://www.nonprofitlawblog.com/home/2010/12/the-2010-relief-act-ira-charitable-rollover.html