Make a Gift from your IRA and save on your taxes!
If you’re aged 70½ or older, it's once again possible to make tax-favored charitable gifts from traditional and Roth IRA accounts. And now that opportunity is permanent!
On December 18 the President signed into law legislation that retroactively extends the charitable IRA rollover for 2015 and makes this provision permanent for future years. A total of up to $100,000 can be transferred directly from traditional or Roth IRAs to one or more qualified charities such as the Fairfield Community Foundation -- and gifts from IRAs are free from federal income tax each year. There may also be state income tax savings. Amounts given in this way count toward required IRA minimum withdrawal amounts for the year of the gift.
To make such gifts, it’s important not to withdraw funds before making an IRA gift. Instead you should have the gift amount distributed directly from an IRA to one or more qualified charities. For those with check writing privileges on their accounts, this may be the most efficient way to make gifts directly from an IRA. Check with your IRA administrator or your tax advisor for more information.
Grant Proposal Deadline Approaching
The next grant application deadline is fast approaching. Click here to print out the application and apply for funding! The deadline is May 15.
First Carboy Kaleidoscope Scholarship Awarded
Blanche Bors was named the first winner of the Karin Carboy Kaleidoscope Scholarship, an endowed scholarship for nontraditional women students and women wishing to return to school mid-life.
Blanche resides in Fairfield and is attending Cincinnati State Technical & Community College working toward a Dietetic Technician certification. Her goal is to become a license, registered dietician specializing in senior nutrition. She currently works at the Derringer Company and is a volunteer at Vineyard Church North West. She is a member of the Academy of Nutrition and Dietetics, the Greater Cincinnati Dietetic Association, the Ohio Academy of Nutrition and Dietetics, and Cincy for Christ. She has been activity involved in the Ladies Auxiliary to the Veterans of Foreign Wars, Post 3869.
New Officers Selected for Board of Trustees
Steve Smith was elected chair of the Board of Trustees at its first meeting of the year in June. Steve is Senior Underwriting Manager at Cincinnati Insurance Company. Steve has been a member of the Board since June of 2012. He has served as a member of the Publicity, Strategic Planning and Nominating Committees and chaired the Marketing Committee in 2013-2014. He also currently chairs the Development/Planned Giving Committee for the Foundation.
Other officers elected for 2015-2016 are vice chair Steve Wolterman, partner with Clemmons & Wolterman law firm; secretary Kathleen Michitti, volunteer; and treasurer Robert Jung, vice president wealth management advisor, U.S. Bank.
Steve Smith, Board Chair
$114,000 in Scholarships Awarded to Graduating Seniors
Area graduating seniors were awarded $114,000 in scholarships from Fairfield Community Foundation Funds during May. Fairfield High School Students and others living in Fairfield or Fairfield Township received $86,000 in scholarship funds. Additionally, $28,000 was awarded to 24 students from the 14 Butler County High Schools at the Joe Nuxhall Scholarship Luncheon on May 22 at Miami Hamilton.
Scholarships are awarded each year from funds established by individuals, families, organizations, service clubs and others who want to make a college education available to graduating seniors in the area.
"Most funds are restricted to be given to students who attend Fairfield High School," said Diane Ruder, Foundation president. "However, the Nuxhall Scholarships are awarded to students who attend all the Butler County high schools. The schools can elect to give the scholarships to one or two graduating seniors."
2015 Joe Nuxhall Scholarship Winners
Peg Collins New Wall of Fame Honoree
Long-time civic volunteer and leader, Margaret "Peg" Collins, has been selected to have her photo included on the Foundation's Wall of Fame located in the Fairfield Performing Arts Center during a ceremony on Thursday, May 7, 2015 beginning at 5:30 p.m.
Peg's civic involvement and volunteer activities positively impacted the City of Fairfield's development and its citizens' lives in many ways. In 1978, Peg was elected to the City Charter Commission which helped developed the charter to establish the city's City Manager Form of government. Beginning in 1980, Peggy served as a member of the City of Fairfield Planning Commission for 25 years representing the Fairfield 4th Ward. Peggy worked with others on projects which, over time, set the course for the development of the city's Village Green area.
Among many other volunteer efforts, Peg was actively involved in the League of Women Voters and Sacred Heart Parish activities. The Wall of Fame ceremony is open to the public.