University offers way to donate to Xavier while helping hurricane relief efforts
New Xavier Disaster Support Fund provides ongoing support for those impacted by disaster
09/29/05The plight of the people of the Gulf Coast touched the hearts of all Americans after the devastation of Hurricane Katrina, and many are extending a helping hand—literally and figuratively—to the victims of this disaster. To help hurricane victims, the University has established the Xavier Disaster Support Fund to provide ongoing support for those critically impacted by the disaster. It also provides for victims of future disasters.
Thanks to special legislation, taxpayers do not have to choose between doing their part for hurricane relief and their regular support of favorite organizations, such as Xavier University.
On Sept. 23, 2005, the Katrina Hurricane Tax Relief package was enacted to provide a unique opportunity for Americans to contribute outright gifts of cash up to 100 percent of their adjusted gross income (current law is up to 50 current of this income) to any qualified public charity whether or not the charity is engaged in Katrina relief. It also provides the opportunity for donors age 59 to contribute tax-free gifts from IRAs and other qualified retirement plans. These gifts must be made between Aug. 28, 2005, and Dec. 31, 2005.
If you would like to take advantage of this window of opportunity, please talk with your financial and/or tax advisors about both the optimum amount to contribute in 2005 and the advisability of making gifts from your IRA or other qualified plans.
For more information, contact the office of gift and estate planning at 513 745-3314.