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Charitable IRA Rollover Is a Tax-Efficient Way to Give

Rollover Retirement Assets for Immediate Impact
Posted October 25, 2016
Retirement assets are a convenient, tax-efficient way to support Johns Hopkins. IMAGE: Donyanedomam|Dreamstime.com Retirement assets are a convenient, tax-efficient way to support Johns Hopkins. IMAGE: Donyanedomam|Dreamstime.com

If you are age 70 ½ or older, the charitable IRA rollover may be a convenient way for you to support Johns Hopkins, providing tax advantages to you and immediate support for Hopkins.

How the IRA Rollover Works

Individuals who are 70 ½ or older may transfer up to $100,000 a year directly from their traditional IRA to a qualified charity, such as Johns Hopkins. If a spouse has a separate IRA, he or she can also make a charitable IRA rollover gift. The amount of the transfer will not be included in your taxable income, and the transferred amount can count toward your required minimum distribution.

How to Make an IRA Rollover Gift

If you are considering a charitable gift from your IRA, consult with your advisor to determine if the charitable IRA rollover is a good option for you. The information below will help you accomplish your rollover gift as quickly and seamlessly as possible:

  • Contact your IRA custodian and instruct your custodian to make a distribution directly to Johns Hopkins.
  • Provide your IRA custodian with our tax ID number – 52-0595110 – and contact information (below).
  • Notify the Office of Gift Planning by phone or email that your gift is on its way, and provide us with your full name, address, phone number and the area of Johns Hopkins you would like to support. Contact:
 
mail: Johns Hopkins Office of Gift Planning
San Martin Center, 2nd Floor
3400 North Charles Street
Baltimore, MD 21218
 
email: c-ira@jhu.edu
 
phone: 410-516-7954 or 800-548-1268

For More Information

Download the charitable IRA Rollover information sheet.