Make an IRA Charitable Contribution to the Hand Foundation

October 5, 2017

Did you know? The IRA Charitable Rollover provision of the PATH Act allows individuals 70 ½ and older to make tax-free contributions of up to $100,000 from their Traditional IRAs directly to qualified charities without recognizing the assets transferred as taxable income.  The IRA Charitable Rollover is the perfect tool to use to support any number of the Hand Foundation's unrestricted or designated funds.

Eligibility

  • Are you over 70 ½? 
  • Do you find that you don't need all or a portion of your required minimum IRA distribution? 
  • Would you like to do something impactful for the community while potentially reducing your tax liability for 2017?

If you answered yes to the above questions, then now is the time to take advantage of a powerful giving tool: the IRA Charitable Rollover provision.  When you reach age 70½, the IRS requires you to start making withdrawals from your Traditional IRA(s).   These IRA withdrawals are also called Required Minimum Distributions (RMDs). If you fail to take your annual RMD or take out less than what is required, you will not only owe income taxes on the amount not withdrawn, you may also be charged a penalty fee.
 

Instructions

  1. Instruct the custodian of your IRA account to send the funds directly to the American Foundation for Surgery of the Hand. Donations up to $100,000 will count towards the minimum required distribution for the year.
  2. Alert the Foundation at [email protected] with the details of your distribution so we will know who to attribute the donation to, and if there is a specific AFSH fund your donation should be directed to.
  3. Contributions can be directed to Research, Education, Outreach, or designated to a named award or fund.  
  4. Questions?  Contact the AFSH at (312) 880-1900 or email [email protected].

REMITTANCE ADDRESS

American Foundation for Surgery of the Hand
Department 2026
P.O. Box 87916
Carol Stream, IL 60188-9981
 
The AFSH tax ID number is 74-2428242.