Barbara,
Thank you for your email notification. Could you explain to me how giving a donation to Wesleyan would benefit victims of Hurricane Katrina for which the legislation is named? Will Wesleyan be forwarding all donations given under the auspices of this legislation to a charity helping Katrina victims? Or, dare I suppose, is Wesleyan just taking advantage of a blatant loophole our enlightened legislators have opened up for the wealthy?
-G. Nar Dao ’99
[Written in response to following email:]
Dear Nar
I am pleased to write to you about a new opportunity that may offer significant tax benefits to you. The Katrina Emergency Tax Relief Act of 2005 (KETRA) that was recently passed by the U.S. Congress encourages charitable giving from now until December 31 by temporarily suspending limits on deductions for gifts of cash.
This makes your gift of cash deductible up to 100% of your adjusted gross income (AGI), and enables you to claim the entire gift as a deduction this year. Your gift by credit card also counts as cash. KETRA may be of interest to you if you have an outstanding pledge, are contemplating a capital gift, or you would like to use your IRA or other retirement plan to fund a gift. Click KETRA for more detailed information.
Please talk with your tax advisor before deciding whether you will benefit from this opportunity.
With best wishes,
Barbara-Jan Wilson
Vice President for University Relations
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