For individuals age 70½ or older, the IRA Charitable Rollover is a tax-wise way to support Beth Israel Deaconess Medical Center (BIDMC). If you are required to make annual withdrawals from an IRA account, these otherwise taxable distributions can satisfy your annual Required Minimum Distribution (RMD) and exclude these funds from your taxable income.

Each year, you (and your spouse) can transfer as much as $100,000 to BIDMC for a purpose that you choose. The IRA Charitable Rollover was made permanent through The Protecting Americans from Tax Hikes Act of 2015.

In order for the distribution from your IRA to qualify:

  • You must be at least 70½ years of age at the time of the distribution
  • The transfer must be made directly from your IRA administrator to BIDMC
  • Gifts from your IRA cannot exceed $100,000 per person
  • The donation must be an outright gift

What are the benefits?

  • Transfer tax-free gifts from your IRA directly to BIDMC
  • Can be applied toward your annual Required Minimum Distribution (RMD)
  • Beneficial for individuals who do not itemize deductions on their income tax
  • Withdrawals are not subject to annual charitable deduction limitations
  • IRA gifts may be used to satisfy multi-year campaign or gift pledges

To initiate the transfer, contact your IRA administrator. View a sample request letter from plan owner to IRA administrator.

BIDMC’s Federal Tax Identification Number is 04-2103881.

If you would like additional information on these opportunities, please contact: Noreen M. Mitchell, Director of Planned Giving, Office of Development, at (617) 667-1387 or noreen.mitchell@bidmc.harvard.edu.


Note:
The information on this website is not intended to serve as legal or financial advice. When planning a specific charitable gift, the services of a legal or financial advisor should be obtained.


Development Planned Giving  Related Links
Noreen M. Mitchell
Office of Development
Beth Israel Deaconess Medical Center
330 Brookline Avenue (OV)
Boston, MA 02215
617-667-1387
noreen.mitchell@bidmc.harvard.edu 
Planned Giving
How to Give
Gifts of Stocks, Bonds, and Mutual Funds
Give Now