IRA Charitable Rollover
If you are 70 1/2 or older and would like a way to lower the income and taxes from your IRA withdrawals, in addition to making a gift that would make a difference for our patients and their families, the IRA Charitable Rollover may be of interest to you.
Benefits of the IRA Charitable Rollover:
- Reduce your taxable income, even if you do not itemize on your tax return
- Avoid taxes on transfers of up to $100,000 from your IRA directly to Spectrum Health Foundation and/or Helen DeVos Children’s Hospital Foundation
- Satisfy your annual required minimum distribution (RMD)
- Make a meaningful impact on patients and families served at Spectrum Health and Helen DeVos Children's Hospital
How the IRA Charitable Rollover process works:
- Contact your IRA administrator and request to make a gift from your IRA to Spectrum Health Foundation and/or Helen DeVos Children’s Hospital Foundation
- IRA assets must be transferred directly to the foundation from the IRA custodian, such as a bank or mutual fund
- Please remember that IRA rollover gifts do not qualify for a charitable tax deduction
- If you would like your gift to be designated to a specific area or program, please contact our planned giving team.
The information on this website is not intended as legal or tax advice and is taken from sources believed to be reliable, however is not guaranteed as to completeness or accuracy. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes typically include federal taxes only; state income/estate taxes or state law may impact your results. You are encouraged to seek the advice of your financial planner, attorney, and/or tax advisor to make certain that a contemplated gift fits well into your overall circumstances and planning.