Passionate about supporting MAHHC even after your lifetime? It's easy to do with a beneficiary designation. Just name MAHHC as a beneficiary of your retirement account. Simply fill out a change-of-beneficiary form, which is readily available from your retirement account administrator. You can review and adjust beneficiary designations anytime you want.
IRA Charitable Rollover (Qualified Charitable Distribution)
If you are 70½ years old or older, you can give up to $100,000 from your IRA directly to MAHHC without having to pay income taxes on the money. Direct rollovers to MAHHC can be made only from an IRA. Under certain circumstances, however, you may be able to roll assets from a pension, profit sharing, 401(k), or 403(b) plan into an IRA, and then make the transfer from the IRA to MAHHC. To determine if a rollover to an IRA is available for your plan, speak with your plan administrator. If you have a spouse (as defined by the IRS) who is 70½ or older and has an IRA, he or she can also give up to $100,000 from his or her IRA.
Why Consider This Gift?
- If you have not yet taken your required minimum distribution for the year, your IRA charitable rollover gift can satisfy all or part of that requirement.
- You pay no income taxes on the gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your deductions.
- Your gift will be put to use today, allowing you to see the differences your donation is making.