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

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 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 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 16 may not arrive in time for the IRA custodian to count the gift as a distribution for the current year.

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 us 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. Please note that the IRS does not permit IRA Rollover gifts to satisfy event registration fees or membership dues.

Judy Kelly

“When I needed to start taking my Required Minimum Distribution from my IRA, I was thrilled to learn that I could donate my distribution directly to City of Hope and they would receive the entire amount free of taxes. My gifts support the pediatrics department because, as a longtime volunteer with the program, it’s near and dear to my heart.”

— Judy Kelly, City of Hope volunteer

Choose the information you wish to receive: