Planned Giving

A charitable gift in your estate plan can help ensure the future of the California Film Institute.
There are many ways to make a planned gift, including:

• A charitable bequest
   
• A charitable remainder
   
• A charitable lead trust
   

REMINDER: YOU MAY QUALIFY FOR A TAX-FREE DISTRIBUTION FROM YOUR IRA

• The Pension Protection Act of 2006 has been extended through December 2009.
  This allows taxpayer 70½ years and older to donate funds to charity directly from their IRA account. The distributions will be tax-free and avoid the penalty on early withdrawals. Taxpayers are allowed to donate up to $100,000 per year directly from their IRA. The extension of the Pension Protection Act was signed into law on October 3, 2008, extending the IRA Charitable Rollover provision originally passed in 2006. The passage is retroactive to the start of 2008 and continues through December 31, 2009.
   
• The legislation allows individuals age 70½ and older to make direct transfers from their IRA of up to $100,000 in 2009 to the charity or charities of their choice, without having to recognize the transfers as income. (You must wait six months following your 70th birthday to make the transfer.)
   
• Transfers will count towards the minimum required distribution each individual over 70½ is required to take from retirement accounts each year.
   
• Transfers must come from IRAs directly to the charity or charities of choice. If you have retirement assets in a 401(k), 403(b) etc., you must first roll those funds into an IRA, and then direct your IRA administrator to transfer the funds from the IRA directly to charity.
   
• Ask your tax advisor for details.

If you would like more information about planned giving, please contact Atissa Manshouri at amanshouri@cafilm.org or 415-526-5837.