Two of Eastern’s chief fund-raisers agree that a senate bill intended to bolster faith-based charities could help the university increase donations.

Jill Nilsen, vice president for external relations, and Jon Laible, director of the EIU Foundation, both agree the legislation could help Eastern’s fund-raising efforts.

The legislation, which would allow people over the age of 59 1/2 to donate money from their individual retirement accounts without paying taxes, was co-sponsored by one of Illinois’ senators.

U.S. Sen. Dick Durbin (D-Il) introduced the IRA Charitable Rollover Act of 2001 along with Sen. Kay Bailey Hutchison (R-Texas).

Laible said the bill would help the foundation, which is not directly affiliated with Eastern, but is a major solicitor of funds for the university.

“It will help not only Eastern, but all charities, actually,” Laible said. “IRAs and tax-deferred annuity accounts grow tax free but when you take it out then you have to pay income tax.”

The provision would allow donors to make larger gifts from their retirement funds because they would no longer have to pay a tax on that gift, Laible said. Essentially, a donor would take out the same amount of money, but the university would get more of it, because there would be no taxes.

The bill would unlock billions of dollars in savings Americans hold, making them available to charity, according to a press release from Durbin’s office.

“Our legislation will allow individuals to roll assets from an individual retirement account into a charity or a deferred charitable gift plan without incurring any income tax consequences.Thus the donation would be made to charity without ever withdrawing it as income and paying tax on it,” the release stated.

“I for one would use it as a means of making some of the contributions I make and I’m certain there are others,” Laible said.

Nilsen, who heads the university’s in-house fund-raising campaigns agrees that the legislation could help Eastern solicit more and larger donations.

“It would be a great thing for any potential donor. It looks like it would be a win-win (situation) for the donor and for the charity, in this case the university,” she said. “Any way that we can increase the benefit to the donor for philanthropic giving is a benefit to the university.”

Georgetown University, the Art Institute of Chicago, the University of Chicago, the Field Museum, Northwestern University and the Chicago Symphony are among 100 groups in Illinois that support the bill, according to the release.

Laible said the foundation has not made any plans to ask members of Congress to support the legislation, but he would be delighted if it would pass into law.

“I think it would be a real positive thing for the foundation and other charities,” he said.