CALENDAR OF EVENTS

Charitable IRA Rollover




If you are 70 1/2 years or older, you can take advantage of a simple way to benefit the Hoover Presidential Foundation and receive tax benefits in return. You can give up to $100,000 from your IRA directly to a qualified charity such as ours without having to pay income taxes on the distribution.
  • Your gift will be put to use today, allowing you to see the difference your donation is making.
  • You'll be making a gift from your most highly taxed assets
  • 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.
  • If you have not yet taken your required minimum distribution (RMD) for the year, your IRA charitable rollover gift can satisfy all or part of that requirement.*
*The SECURE Act passed in late 2019 and took effect on Jan. 1 2020 still allowing for Qualified Charitable Distribution (QCD) if you are age 70 1/2 but a QCD doesn't count toward your required minimum distribution (RMD) until age 72 for those who turned 70 1/2 on Jan. 1, 2020 or after.

Contact:
Mundi McCarty
Director of Development
Hoover Presidential Foundation
MMcCarty@HooverPF.org or
319-643-5327 for more information.












































The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results.    
 

Ways to Give:

 
 
 
 
 
 
 
 
 
 
 


If you are 70 1/2 years or older, you can take advantage of a simple way to benefit the Hoover Presidential Foundation and receive tax benefits in return. You can give up to $100,000 from your IRA directly to a qualified charity such as ours without having to pay income taxes on the distribution.
  • Your gift will be put to use today, allowing you to see the difference your donation is making.
  • You'll be making a gift from your most highly taxed assets
  • 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.
  • If you have not yet taken your required minimum distribution (RMD) for the year, your IRA charitable rollover gift can satisfy all or part of that requirement.*
*The SECURE Act passed in late 2019 and took effect on Jan. 1 2020 still allowing for Qualified Charitable Distribution (QCD) if you are age 70 1/2 but a QCD doesn't count toward your required minimum distribution (RMD) until age 72 for those who turned 70 1/2 on Jan. 1, 2020 or after.

Contact:
Mundi McCarty
Director of Development
Hoover Presidential Foundation
MMcCarty@HooverPF.org or
319-643-5327 for more information.


The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results.   

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CHARITABLE IRA ROLLOVER

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