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* * * 2010 SCHOLARSHIP INFO * * * The Bedford Community Foundation intends to award at least five and perhaps as many as 10 scholarships in the amount between $500 and $1000 to worthy members of the senior class of Bedford Public Schools, Ida Public Schools, and/or State Line Christian Schools for use in higher education or technical education programs. Additionally, graduates of either of these schools or graduates of local high schools already in higher education or technical education programs whose parents live in Bedford Township shall also be eligible to apply for scholarships. Please advise members of the senior class and graduates of the opportunity to be awarded these scholarships. The awards will be presented at the annual awards ceremony held at the Bedford Public Schools High School and/or at an appropriate ceremony at State Line Christian Schools; therefore, the Foundation would appreciate return of completed Applications with letters of recommendation and transcripts of grades before April 5, 2010 at the address of the Foundation.
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* * * * * * * * NEWS RELEASE * * * * * * * * YOU CAN
MAKE TAX FREE GIFTS FROM YOUR IRA Federal tax legislation enacted on October 3, 2008 allows individuals 70 1/2 and over to make a direct gift from your IRA to the Bedford Community Foundation or other qualified charities. This gift counts toward fulfilling your required minimum distribution. For each of the years 2008 and 2009 you can exclude up to $100,000 from your gross income for distributions made directly from your traditional IRA to a qualified charity. Checks issued from the IRA must be made payable to the charity. Take advantage of this favorable tax treatment by using your IRA to make a gift to Bedford Community Foundation and advance the causes of your community and to help make “Bedford Better.” Gifts must be received by December 31 in order to qualify as a charitable gift in the current year. Make a gift to the BCF directly from your IRA in 2008 and 2009. Your donation will not be taxed as an IRA withdrawal. Your contribution will count towards your mandatory IRA withdrawal. You are urged to contact your IRA custodian or representative before making a gift to arrange for the proper transfer of funds from your IRA. While this topic is fresh on your mind, ask your attorney and financial advisor how to make the BCF a beneficiary of your will or trust or IRA For more information about how you and the Bedford Community Foundation can benefit from an IRA charitable gift please contact our office at 734-854-1722. You may have your check sent directly to the: Bedford Community Foundation These helpful tips are only for your information on this change in the IRA law and are not to be considered as legal, tax or financial advice. You should consult with your legal, tax and financial advisors to implement the benefits of this new law and related matters. |
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