New IRA rollover legislation, signed into law on August 17, 2006, gives donors the opportunity to make direct gifts to a charity during their lifetime from IRAs without income tax consequences. Donors 70½ years old or older can now give up to $100,000 per year from their IRAs and exclude the distribution from income. The gift must be to a public charity, such as the Center City Opera Theater. This new law applies only to traditional IRAs and Roth IRAs in the tax years 2006 and 2007.

Please contact your personal tax advisor to determine if this type of gift is right for you. For more information on making a planned gift to the Center City Opera Theater, contact us at 215.238.1555 or info@operatheater.org