IRA GivingBetween now and December 31, 2009, IRA owners age 70½ and older may take advantage of the IRA charitable rolloverprovision. This provision allows U.S. taxpayers to make tax-free distributions of up to $100,000 in 2009 from an IRA toqualified charitable organizations, such as the <strong>Dutchess</strong> <strong>Community</strong> <strong>College</strong> Foundation. Charitable distributions from anIRA can be used to satisfy the annualrequired minimum distribution (RMD).Remember, IRA assets left to heirs maybe subject to estate and income taxes,so this is a unique opportunity to avoidboth taxes.How to Qualify:• Distributions may be made in 2009• Donors must be age 70½ or olderon the date of the distribution• Distribute, to qualified charities suchas the <strong>Dutchess</strong> <strong>Community</strong><strong>College</strong> Foundation, up to $100,000per taxpayer, per year (Coupleswith separate IRAs can each giftup to $100,000 per year)• Distributions to charity can be applied to satisfyrequired minimum distribution (RMD)• Distribution must be transmitted directly from yourIRA's plan administrator to the charity• Receipt from the charity is required for a donor tosubstantiate a charitable IRA distribution• This opportunity does not apply to other forms ofretirement plans such as 401(k), 403(b), etc.Making the Gift is Easy:Direct your IRA manager to distribute funds directly to the<strong>Dutchess</strong> <strong>Community</strong> <strong>College</strong> Foundation. To designate yourdistribution to a particular fund, instruct your IRA manager tomake the distribution payable to the "<strong>Dutchess</strong><strong>Community</strong> <strong>College</strong> Foundation - Name of the Fund ". Toensure you receive proper acknowledgement for yourcontribution, be sure to share your intentions with theDCC Foundation, Office of Institutional Advancement,845-431-8400.Legal Name<strong>Dutchess</strong> <strong>Community</strong> <strong>College</strong> Foundation, IncorporatedEmployer Identification Number (EIN):22-2484101Join the James Hall Legacy SocietyIf you decide to make a gift to the <strong>Dutchess</strong> <strong>Community</strong> <strong>College</strong>Foundation from your IRA, we hope you willallow us to add your name to the roster of the "JamesHall Legacy Society," the Foundation's planned givingrecognition group. If you prefer to remain anonymous, wewill honor your wishes and include you as an anonymous donor.For more information, or to hold a confidential discussion,please contact us at 845-431-8400:This information is for educational purposes only and isnot intended as legal, tax or investment advice. If you areconsidering a planned gift to the DCC Foundation, wehighly recommend you consult with your own tax and legaladvisors to determine the best options for you.2008 ANNUAL <strong>REPORT</strong>17 17
thankyouThank you so much for your generous gift to the <strong>Dutchess</strong><strong>Community</strong> <strong>College</strong> Foundation. We cannot express enoughhow important your support of DCC is to the success of our students and our<strong>College</strong>. With the help of dedicated people like you, we will continue to be an outstandingeducational resource for the community.Scholarship recipient and Student Government Association President Curtiz Simpson wanted topass along his appreciation as well.“As a scholarship recipient who has benefited from your generosity, I would liketo personally thank you for supporting the DCC Foundation. The scholarship Ireceived has helped me to meet my financial obligations, allowing me to attend<strong>Dutchess</strong>.DCC has done wonders for my education, career, and character. I am confidentthat as I go on to my next institution of higher learning I will be more than preparedto achieve my goals and become another success story because of <strong>Dutchess</strong><strong>Community</strong> <strong>College</strong>.I want to send my sincere gratitude to the donors, faculty, administration, staff,and everyone who assisted me in my journey at <strong>Dutchess</strong>. I am now focused anddetermined to make a better life for myself and hopefully set a good example forother young people to follow."Curtiz is one of many students who have benefited from your support. Thank you for continuing tohelp people like him meet their educational goals and prepare for a successful future.“Let us think of education as the means ofdeveloping our greatest abilities, because in eachof us there is a private hope and dream which,fulfilled, can be translated into benefit foreveryone and greater strength for our nation.”- John F. Kennedy18 2008 ANNUAL <strong>REPORT</strong>