Support your favorite hospital or program with a tax-free gift from your IRA

07/01/2019

IRA gift to Banner Health
Transfer any amount up to $100,000
from your IRA account directly
to a qualified charitable
organization—without paying
income tax on the distribution.

You’ve worked hard, saved diligently and you’re ready to enjoy your retirement years. Maybe you’re also looking for a way to give back to the organizations and causes that have been important to you. Consider making a charitable gift from your IRA.

If you’re at least age 70½, you can use the IRA Charitable Rollover to make a tax-free gift to the Banner Health Foundation or Banner Alzheimer’s Foundation. This law allows you to transfer any amount up to $100,000 directly to a qualified charitable organization—without paying income tax on the distribution.

When you use the IRA charitable rollover to make a gift to your favorite Banner Health hospital or program:

  • Your gift will be put to use today, allowing you to see the difference you’re making in patients’ lives.
  • You pay no income taxes on the gift. The transfer doesn’t generate taxable income or a tax deduction, so you benefit even if you do not itemize your tax deductions.
  • If you have not yet taken your required minimum distribution for the year, your IRA charitable rollover gift can satisfy all or part of that requirement.

Not 70½ yet?

You can still support our mission with your IRA, even if you are not yet age 70½. Simply name the Banner Health Foundation or Banner Alzheimer’s Foundation a beneficiary of your account, and we’ll receive the funds, or the portion you designate, after your lifetime.

The information in this publication is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results.