The Honorable Kevin Cramer
U.S. House of Representatives
1717 Longworth HOB
Washington, D.C. 20515
The Honorable Earl Blumenauer
U.S. House of Representatives
1111 Longworth HOB
Washington, DC 20515
July 2018
Dear Congressmen Cramer and Blumenauer:
Leadership 18 thanks you for your commitment to encourage charitable giving by enabling seniors to make tax-free contributions from their individual retirement accounts (IRA) to charities through life-income plans. We support your efforts through H.R. 1337, Legacy IRA Act.
To operate effectively and advance our tax-exempt purpose, we are dependent on private philanthropy, including gift planning. A few years ago, when the IRA Charitable Rollover provision was made permanent in the PATH Act, many of our organizations saw a dramatic increase in charitable giving from IRAs. We believe the Legacy IRA bill simply offers another option and would incentivize more giving by seniors to help charities while helping seniors who need a lifetime income.
The undersigned CEOs support H.R. 1337, which would allow seniors starting at age 65 to make tax-free IRA rollovers to charities through life-income plans (charitable gift annuity or charitable remainder trust). The senior’s annual retirement income from the life-income plan is fully taxed. We believe this new giving option will be particularly attractive to middle income seniors.
Leadership 18 is an alliance of CEOs responsible for leading some of the country’s largest and most well-respected charities, non-profits and faith-based organizations. As a group, member organizations serve over 87 million people annually, with 5.6 million staff and volunteers, and represent $44 billion in total revenue. We are a community of leaders who share a profound commitment to ensuring that all individuals have the opportunity to contribute to a vibrant America, and with opportunity and effort, can live their lives to their fullest potential.
Leadership 18 offers our support and is willing to work with you and other Members of Congress to enact the Legacy IRA bill. America is stronger when everyone has the opportunity to give, to get involved, and to strengthen their communities.
Sincerely,
Leadership 18
Signers:
Susan Dreyfus
President & CEO
Alliance for Strong Families and Communities
Gary Reedy
Chief Executive Officer
American Cancer Society
Nancy Brown
Chief Executive Officer
American Heart Association
Gail McGovern
President & CEO
American Red Cross
Jim Clark
President & CEO
Boys & Girls Clubs of America
Sister Donna Markham
President & CEO
Catholic Charities USA
Michael Brown
CEO and Co-Founder
City Year
Sylvia Acevedo
Chief Executive Officer
Girl Scouts of the USA
Judy Vredenburgh
President & CEO
Girls Inc.
Jim Gibbons
President & CEO
Goodwill Industries International, Inc.
Jonathan Reckford
Chief Executive Officer
Habitat for Humanity International
Jerry Silverman
President & CEO
The Jewish Federations of North America
Charlotte Haberaecker
President & CEO
Lutheran Services in America
Paul Gionfriddo
President & CEO
Mental Health America
James Firman
President & CEO
National Council on Aging
Brian Gallagher
President & CEO
United Way Worldwide
Mike King
President
Volunteers of America
Kevin Washington
President & CEO
YMCA of the USA
Alejandra Castillo
Chief Executive Officer
YWCA USA