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 an IRA Rollover gift, you get many benefits.
- 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.
- 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.*
- Advance lifesaving research and patient care.
*Complete your transfer before December 31. You should initiate your year-end transfer prior to December to ensure that the transfer is completed by December 31. Gifts made by IRA checkbook and received by City of Hope after December 15 may not arrive in time for the IRA custodian to count the gift as a distribution for the current year.
- 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 us at 800-232-3314 or firstname.lastname@example.org. We would greatly appreciate being informed of your generosity so that we can be prepared to provide a proper and timely IRS acknowledgment. Please note that the IRS does not permit IRA Rollover gifts to satisfy event registration fees or membership dues.
“I wanted to do something for City of Hope and because I saved on taxes, my IRA rollover donation enabled me to make a larger gift than I would otherwise have been able to make.”
–Leslie Bernstein, Ph.D., Professor, Division of Biomarkers of Early Detection and Prevention, Department of Population Sciences, City of Hope