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FY 2008 Distributions top $5.4 million
During October, the Oklahoma City Community Foundation distributed $5.45 million to 285 charitable organizations in central Oklahoma. The money represents the annual distributions from the organizations’ endowment funds that are administered by the foundation. The average distribution check was $11,000, an increase of $500 from the prior year.
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IRA Charitable Rollover: Make the Gift of a Lifetime
For the tax years 2008 and 2009, individuals age 70½ and older can transfer up to $100,000 per year from an individual retirement account (IRA) to a charitable organization without incurring income taxes today or estate tax in the future. If married, each spouse can transfer $100,000 per year from his or her IRA. Prior to this law all lifetime distributions from IRAs were taxed even if the distribution benefited a charitable cause. The provision is time-limited; it applies only to qualified distributions made before January 1, 2010.
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A Great Gift: Encouraging Agricultural Education
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Challenge Ends Dec. 31! |
FY 2008 Investment Report
Available for download here.
Welcome to the new OCCF.org
In our effort to continue to provide outstanding service to donors, professional advisors, charitable organizations and the overall community, we’ve updated occf.org. You can expect to find all of the great resources and information as before in addition to several new tools that we believe will make your visits to occf.org better than ever. We’ve created a Web site guide to ease your transition with the new site. For more information or if you have suggestions about how we can make further improvements to the site, please contact us at info@occf.org or 405/235-5603.
