Individual IRA distributions can be subject to income tax.  If a heir inherits the IRA, it may be subject to estate tax. An IRA Charitable Rollover lets you avoid both these taxes. But the law puts a December 31, 2007 deadline on this gift.

Here is the key information:
• To qualify, you must be age 70½
or older.
• You can donate up to $100,000
in 2007.
• Your donation may be counted toward
the required minimum distribution for
tax-deferred retirement accounts in the
year the gift is made.
• The IRA Charitable Rollover applies to
outright gifts only.
• A gift from your IRA will not
generate taxable income or a tax
deduction.
• All you need to do is instruct your IRA
custodian to transfer funds directly to
City of Hope.

For more information, please contact City of Hope’s Gift Planning Department
at 800-232-3314.