Charitable IRA Rollover
Did you know you can transfer funds directly from a traditional or Roth IRA to Project Angel Heart, avoid having to report the distribution as income, and have an immediate impact on people living with cancer, kidney disease, HIV/AIDS and other life-threatening illnesses?
On December 18, 2015, the President signed congressional legislation to permanently extend the IRA Charitable Rollover. If you’re 70-1/2 or older, this may provide a way to make a meaningful gift to Project Angel Heart and reduce your overall tax burden. If there is an annual required minimum distribution (note that all RMDs have been suspended for 2020), a charitable IRA rollover can also apply to the RMD amount.
“I try to give all I can both financially and as a volunteer to make sure that this gift of life to so many continues far into the future. The tax-free transfer of funds from my IRA to Project Angel Heart was very easy and worthwhile. My financial institution did all of the required accounting, notification, and transfer.”
– Jim Hill, donor
How It Works
If you are 70-1/2 or older, you may transfer up to $100,000 per year directly from your traditional IRA to a qualified charity, like Project Angel Heart. If your spouse has a separate IRA, he or she is also eligible to make a charitable IRA rollover gift. The amount of the transfer will not be included in your taxable income, and the transferred amount counts toward the IRA’s required minimum distribution (if applicable; note that all RMDs have been suspended for 2020).
Making Your Gift
- Talk to your financial and tax advisers to determine whether the charitable IRA rollover is the right option for you.
- Contact your IRA custodian and instruct them to make a distribution directly to Project Angel Heart.
- Provide your IRA custodian with our tax ID number, 84-1199481, and contact information (below).
- Notify Andrea Pacheco, Individual Giving Officer, that your gift is on the way.
Project Angel Heart
4950 Washington Street
Denver, Colorado 80216