Archive for December, 2007

Donations – Great Alternative for IRA owners – 2007

Wednesday, December 12th, 2007

If you wish to donate to the EYC and are an IRA owner, age 70½ or over, you can directly transfer tax-free, up to $100,000 prior to December 31, 2007 to an eligible charitable organization.  This provides an exclusion from gross income for otherwise taxable IRA distributions from a traditional or Roth IRA in the case of qualified charitable contributions.  Eligible IRA owners can take advantage of this provision, regardless of whether they itemize their deductions.  To qualify, the funds must be contributed directly by the IRA trustee to the eligible charity.  Transferred amounts are counted in determining whether the owner has met the IRA’s required minimum distribution rules.  Where individuals have made nondeductible contributions to their traditional IRAs, a special rule treats transferred amounts as coming first from taxable funds, instead of proportionately from taxable and nontaxable funds, as would be the case with regular distributions.
 
IRA owners are encouraged to consult with their tax advisors if they wish to make a donation from their IRAs.  If you have any questions, you may contact Paul R. Pillat, Vice Commodore (770)231-2355.

Posted by Paul Pillat – Vice Commodore & Treasurer

Act Now – CLUBHOUSE RENOVATION FUNDRAISING GOAL WITHIN REACH! – 2007

Tuesday, December 4th, 2007

We need your help to reach our goal for the Clubhouse Renovation project! You can make your YEAR END Contributions to the EYC Clubhouse Renovation Project now with a Credit Card. Google will handle donations to the EYC project with no fees! That means the EYC gets all the proceeds even when you use a Credit Card to make your donation.

The project is well under way and we are only $35,000 away from the $125,000 goal, so please act now, even a small amount will help!

Remember all donations are fully tax deductible as the EYC is a 501c3 charity. The improvements will give us a more flexible, useful and safe clubhouse. It will also be virtually maintenance free for years to come. Please consider helping us meet the goal now!

Visit http://www.EYC.org and enter your donation in the upper left box!

If you prefer to send a check please send it to:

Ephraim Yacht Club, PO Box 331, Ephraim, WI 54211

Thank you,

Posted by: David Sauter, Commodore & Bill Hoag, Fundraising Chair

The Ephraim Yacht Club is a family oriented non-profit organization focused on forwarding sailing education and racing to students of all ages located in the town of Ephraim, in Door County, Wisconsin on beautiful Eagle Harbor.