Individual Retirement Account (IRA)
Make a Lasting Impact with Your IRA
You may not realize it, but your Individual Retirement Account (IRA) has the potential to strengthen your charitable giving while saving you tax dollars.
Why Consider an IRA Charitable Contribution?
- Tax-Savvy Giving: Once you reach 70½, you can transfer up to $100,000 annually from your IRA directly to The Hope School Foundation without the distribution counting as taxable income. This is known as a Qualified Charitable Distribution (QCD).
- Meet Your Required Minimum Distributions (RMDs): After the age of 72, you’re required to take minimum distributions from your Individual Retirement Account. These distributions are then subject to taxation. Your charitable contributions can count towards meeting RMDs, potentially lowering your tax liability. However, always discuss all tax questions with a qualified professional who fully understands the tax laws and your unique position.
- Ease and Convenience: Giving from your IRA is fast and easy. You can significantly impact persons with developmental disabilities with little paperwork, knowing your contribution improves their lives.
- Leave a Legacy: Your contribution creates a lasting legacy, supporting Hope in aiding individuals with developmental disabilities to reach their fullest potential.
How to Get Started
- Talk to Your Advisor: Speak with your financial advisor to understand how a gift from your Individual Retirement Account works with your financial goals and tax planning.
- Direct Your Gift: Instruct your IRA custodian to make a direct transfer to The Hope School Foundation. We’re here to assist you with the necessary information and to answer any questions you might have.
- Notify Us: Let us know about your generous act. We would love to thank you personally and keep you updated on the impact of your gift.
You Have the Power to Make a Difference
When you make a charitable gift through your IRA, you extend your legacy of generosity and care. Every gift, big or small, makes a profound difference.
Thank you for considering a gift from your IRA to The Hope School Foundation and the communities we serve.
For more information, please contact:
Other planned giving opportunities
This information is for general informational purposes only and should not be considered as financial, legal, or tax advice. You should consult with your financial advisor, tax consultant, or legal counsel to understand the implications specific to your financial situation before making any charitable contributions. Hope School Foundation is not responsible for any actions based on this information and does not provide tax, legal, or accounting advice.