Kalamazoo Community Foundation touts charitable transfer piece of financial bailout package
The nation's financial crisis is hurting more than banks and investment houses.
Charities also are worried that giving could drop off at the end of this year because many stock portfolios have taken a hit.
But the Kalamazoo Community Foundation is touting a little-publicized piece of the $700 billion bailout package approved in Washington last week that it hopes could stimulate giving.
The IRA Charitable Transfer was extended for 2008 and 2009 as part of the bailout package, according to the Kalamazoo Community Foundation. It allows individuals 70 1/2 and older to donate up to $100,000 tax-free from their IRAs to charity.