Bluffton, SC --  Douglas S. Delaney has received a Private Letter Ruling from the IRS, (PLR 200741016), allowing him to offer his charitable microfinancing/planned-giving strategy, which he calls CHIRA® (pronounced Cheer-ah). The CHIRA® will allow donors to use their IRA to help charitable organizations immediately, without diminishing inheritance.

Motivated wholly by charitable intent, the plan is tax-neutral. That is, it neither hurts nor helps the donor’s tax return. A domestic charitable microfinancing strategy, it is a new business invention that he has worked on for years.

According to Delaney, “the appeal of the CHIRA® plan is that it can be used to help any non-profit 501(c)(3) tax-exempt organization. Churches, schools, libraries, museums, civic and cultural organizations are all looking for ways to fund their dreams; this will help in new ways that haven’t been realized before.”

Offering the best of both worlds, the CHIRA® plan will provide the opportunity for an enormous infusion of cash to very needy charities without reducing governmental tax revenues.  On the contrary, one of the ancillary benefits of the plan is that, according to Delaney, “it gets money moving from Wall Street to Main Street.” In doing so, it will likely have the effect of increasing tax revenues and generating economic activity.

After applying for US Patent registration, his receipt of the IRS Private Letter Ruling has confirmed the legality and the legitimacy of the plan. This planning concept was recently discussed in the November issue industry journal, Trusts and Estates magazine and other trade journals. A retired CPA and practicing estate and tax attorney, Delaney received his Bachelor of Science degree from the University of Dayton, Ohio, a law degree from the University of South Carolina, Columbia, SC and a Masters of Law-Taxation degree from the University of Florida, in Gainesville, FL. 

For more information visit his website at www.CHIRAUSA.com