Capital Campaign Reaches $44 Million
As of Oct. 3, the Culverhouse College of Commerce has reached 51 per cent of its campaign goal or $44 million. Thank you for all of your support.
As year end approaches there are multiple ways to give back to your College; but one we would like to highlight is the Pension Protection Act (PPA). Of special interest is the provision that allows some people to make tax-free distributions from Traditional and Roth Individual Retirement Account (IRA) assets to certain qualified charitable organizations, such as The University of Alabama.
Those interested may request withdrawals of any amount up to $100,000 for transfer directly to charity from IRAs during 2007 without reporting it as taxable income. The provision applies to people age 70 ½ or older who complete gifts by December 31, 2007.
We encourage you to check with your advisors prior to year end about the best ways for you to take advantage of these opportunities as you consider gifts to the University and other charitable interests that are important to you.
It is simple to make a transfer. Contact your account administrator to request a check be delivered to:
The University of Alabama
(Tax Identification #63-6001138)
Box 870122
Tuscaloosa, Al 35487
Please contact Charlie Adair at cadair@cba.ua.edu or 205-348-4722 to alert us of the specific purpose of an anticipated transaction.