How to benefit from changes in the new tax law while
supporting lifesaving research

City of Hope supporters, age 70 ½ or older, can get a tax break while supporting breakthrough treatments and research with an IRA Rollover gift. With a charitable IRA Rollover gift, you get many benefits.

ira-image

Benefits:

  1. Use a portion of your Required Minimum Distribution to make a gift to City of Hope and you don’t pay income taxes on the amount you donate.
  2. Fulfill part or all of your required minimum distribution for this year.
  3. Reduce taxable assets in your IRA account, up to a total of $100,000 each year or $200,000 for married couples.
  4. Advance lifesaving research and patient care.

For example:

  • John Miller wants to make a gift to City of Hope.
  • Now 71 years old, John must take a required minimum distribution from his IRA, which he would have to claim as income.
  • John doesn’t need the additional income, so instead, he uses a portion of his Required Minimum Distribution to make a gift directly to City of Hope and avoids paying income taxes on the donated amount.

For assistance, please contact Thelma Villafuerte at 800-232-3314 or plannedgiving@coh.org. We would greatly appreciate being informed of your generosity so that we can be prepared to provide a proper and timely IRS acknowledgment.

“City of Hope is truly remarkable, providing the finest of care, as well as innovative research. My IRA rollover gift is a “win-win,” to me and City of Hope.”

–Alexandra M. Levine, M.D., M.A.C.P., Dr. Norman & Melinda Payson Professor in Medical Oncology, Professor of Hematology and Hematopoietic Cell Transplantation.

Levine is an acclaimed expert in lymphoma, Hodgkin disease and AIDS-related malignancies. She served as the chief medical officer at City of Hope for 10 years.

Choose the information you wish to receive:

The Wall Street Journal touted this method of giving, saying:

“While the taxpayer doesn’t get a deduction for the gift, neither does it count as income. This popular move can also help reduce a taxpayer’s adjusted gross income, which in turn can help minimize Medicare premiums or taxes on Social Security benefits.”