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IRA and Other Retirement Plan Gifts

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You can maximize the impact of your retirement plan assets—including IRAs, 401(k) plans, 403(b) plans, and TSAs—by designating Children’s Health Council as your primary or secondary beneficiary. The assets you provide to CHC will then not be subject to estate tax or income tax, and consequently, the entire balance will be preserved for CHC.

Possible advantages of an IRA or Other Retirement Plan Gift:

  • You will become a member of the Clark Legacy Circle.
  • Coordinating retirement planning and charitable giving can be especially beneficial if you have accumulated substantial retirement assets and wish to reduce income and estate taxes.
  • Beneficiary designation gifts are easy to set up, and it is simple to change the beneficiary should your circumstances change.
  • You will avoid both income and estate taxes levied on the remainder left in your retirement account.
  • You will memorialize a lifetime commitment to CHC.

A Great Way to Support CHC with your IRA!

The IRA Charitable Rollover—a charitable giving tax break that can help you save taxes while helping your favorite charity—was made permanent in December 2015. If you are 70-1/2 or older and have to make Required Minimum Distributions (RMDs) from your traditional IRA, please consider making a charitable gift to CHC. The benefit to you is that your IRA contribution may satisfy your entire RMD and is TAX-FREE. Please take a look at the IRA Required Minimum Distribution Worksheet from the IRS to calculate your RMD amount and always consult your tax advisor if you have any questions as to your specific tax situation. The cap for eligibility of a tax free gift is $100,000 per individual.

To make sure your gift will qualify for the tax-free treatment, you must satisfy the following regulations:

  • Must be at least 70-1/2 years old
  • The transfer from your IRA must go directly from your IRA to CHC
  • Married couples can each donate up to $100,000 from their individual IRA accounts
  • The gift must be completed by December 31, 2016
  • The gift must be an outright gift (Transfers of IRA gifts to donor advised funds, supporting organizations, charitable gift annuities, or charitable remainder trusts do not qualify)

We are happy to work with you and your tax and legal advisors to structure the type of planned gift that best fits your financial and philanthropic goals. Please contact Director of Advancement Bill Gray at 650-688-3667 or bgray@chconline.org if you need assistance.

Anne Dauer“I was on CHC’s board for 9 years and have been an Auxiliary member since the 1960’s. I knew that I would plan for CHC in my estate because it was the organization I had worked with the longest. My financial planner mentioned that I could take my IRA and bequeath it any way I wished. It seemed like the perfect fit for my situation. As a result, CHC is now a beneficiary of a percentage of my IRA. I think the IRA is one of the easiest ways to make a legacy gift.” -Anne Dauer