Fundraisers are anxiously awaiting passage of the Care Bill, a piece of legislation that will allow charitable donors to roll over an IRA–tax free–to a charitable organization at age 59 1/2.
The Care Bill, which is more formally known as the Charity Aid, Recovery, and Empowerment Act (S. 1924), was sponsored by senators Rick Santorum (R-PA) and Joe Lieberman (D-CT).
The bill recently was voted out of the Senate Finance Committee, but passage by the full Senate is not certain.
“Members of the Senate and House must be told how important these gifts could be to your institutions and the people you serve,” said Conrad Teitell, an attorney with the firm of Cummings & Lockwood, speaking at the Direct Marketing Association
