Act Now to Make a Tax-Wise IRA Rollover Gift to City of Hope

Important Information Regarding IRA Rollover Gifts: If you are using an IRA checkbook to make your gift, please send your check in as early as possible. Gifts received after December 15 may not arrive in time to count as a 2018 distribution.

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.

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Benefits:

  1. Use all or 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. You can donate up to a total of $100,000 each year ($200,000 for married couples) and exclude the gift from your taxable income.
  3. Advance life saving research and patient care.

For example:

  • Jane Miller wants to make a gift to City of Hope.
  • Now 71 years old, Jane must take a Required Minimum Distribution from her IRA, which she would have to claim as income.
  • Jane doesn’t need the additional income, so instead, she uses a portion of her 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., Professor of Hematology and Hematopoietic Cell Transplantation

Levine is an acclaimed expert in lymphoma, Hodgkin’s 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.”