If you are seventy and a half or older, you can make a gift to Deborah Hospital Foundation from your individual retirement account (IRA) or Roth IRA while enjoying a federal tax benefit.
When you make a gift to Deborah from your IRA, you do not recognize the transfer as income. Funds gifted from your IRA will NOT subject your Social Security income to higher tax levels and will count toward your annual minimum required distribution (MRD). As such, no additional charitable deduction is given for your rollover.
The law allows up to $100,000 per IRA owner or beneficiary. A husband and wife with separate IRAs could give up to $200,000 per year.
Checks must be made payable directly by your IRA administrator to Deborah Hospital Foundation.
For more information about IRA Rollover, please contact the Foundation at 609-893-0100.