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IRA Charitable Rollover

On Dec. 18, 2015, the President signed into law the Protecting Americans from Tax Hikes Act of 2015. This legislation retroactively extends the Charitable IRA Rollover for 2015 and makes this provision permanent for future years!

If you are 70½ or older, you qualify for the IRA Charitable Rollover and can now use funds from your IRA to make a charitable gift by rolling them over directly to a qualified charity without creating a taxable event.

IRA Charitable Rollover
IRA (Custodian)
OSF
Charity image

Since OSF Healthcare Foundation is the supporting organization for OSF Healthcare System, IRA Charitable Rollover gifts must be rolled directly to OSF Healthcare System. OSF Foundation is happy to help you with this process.

IRA rollover gifts to OSF Healthcare System may be designated to support any medical center/hospital or program within the OSF Ministry.

The impact of your gift is huge. IRA rollover gifts help to supply the necessary resources for the Ministry of OSF to provide world class health care, education and research, all within the Sisters' Mission to serve persons with the greatest care and love in a community that celebrates the Gift of Life.

Benefits of an IRA charitable rollover

  • Avoid taxes on transfers of up to $100,000 from your IRA to OSF Healthcare Foundation.
  • Choose which area of OSF you wish to support with your gift
  • Satisfy your Required Minimum Distribution (RMD) for the year
  • Reduce your taxable income, even if you do not itemize deductions
  • Make a gift that is not subject to the deduction limits on charitable gifts
  • Help further the life affirming work and Mission of OSF.

How an IRA charitable rollover gift works

  1. Contact your IRA plan administrator to make a gift from your IRA to OSF Healthcare System. SAMPLE LETTER
  2. Your IRA funds will be directly transferred to OSF Healthcare System to support the area of your choice.
  3. Please note that IRA charitable rollover gifts do not qualify for a charitable deduction.
  4. Please contact us if you wish for your gift to be used for a specific purpose.

Contact us

If you have any questions about an IRA charitable rollover gift, please contact us. We would be happy to assist you and answer any questions you might have.

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