Charitable IRA Rollover
As part of the fiscal cliff deal the Charitable IRA Rollover has been reinstated. It had expired at the end of 2011. This rollover is open to people 701/2 or older to transfer up to $100,000 from an IRA to a qualified charity. The window of opportunity for 2012 tax advantages closes at the end of January 2013. Click here for the full article and be sure to consult your tax advisor before making any financial transfers.
2011 Rochester Area Foundation Annual Report
The full 2011 Annual Report is available here.
2011 Rochester Area Foundation Audit
The 2011 Audit is complete. The accounting firm of McGladrey completed the work and gave an unqualified opinion. This means that the financial statements are fairly presented in all material respects, that there were no scope limitations and no disagreements with management were noted. All required disclosures were made and the only significant change to required accounting practices were because of the new requirement to add disaggregated data for the investment portfolio. Click to view the entire audit. Form 990 (and 990-T if ever filed) are available upon request.