Taxpayers aged 70.5 years and older are required to make taxed annual distributions from their IRA’s(Individual Retirement Accounts). This year, you can make that gift to Germantown Academy, at a TAX SAVINGS TO YOU!
by the numbers...
· First enacted in 2006 as part of the Pension Protection Act, reinstated for this year
· Taxpayers age 70.5 and older must make annual distributions from their IRAs which are then included in their taxed Adjusted Gross Income (AGI)
· In 2011, those donors can make gifts to Germantown Academy from their traditional IRA's or Roth IRA (other retirement plans are ineligible) without counting them as part of their AGI
· IRA Rollover contributions can be made up to $100,000
· Your contribution can change the nature of a Germantown Academy education by providing: educational opportunities for 1,083 students in three divisions; support and compensation for 250 full-time faculty and staff; essential interactions by maintaining an average 8:1 student to faculty ratio; 18 performing arts programs; 26 interscholastic athletics programs; more than 50 student clubs; 19 Advanced Placement courses; care for a 126 acre campus.
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For more information, contact Martin Dean, Associate Director of Institutional Advancement, today at 267-405-7458 or email
mdean@germantownacademy.org.