As we approach the end of the year, we want to extend our sincere thanks to our community. Your continuous support allows Mount Nittany Health Foundation to support the advancement of healthcare at Mount Nittany Health and make our community a better, healthier place. The Foundation plays an important role in ensuring that our health system remains a strong, flexible and vital resource for our region.
The Foundation would like to remind our friends who are 70 ½ or older, that a charitable contribution can be made directly from an Individual Retirement Account (IRA) or Roth IRA. A gift can be directed from your individual retirement account and count toward your annual minimum required distribution, and not subject your Social Security income to higher tax levels.
The law allows an individual to give up to $100,000 per IRA owner, meaning a husband and wife with separate IRAs could give up to $200,000 per year. Since rollover gifts from your IRA will not be recognized as taxable income, charitable rollover gifts do not qualify for a charitable deduction. Additionally, you can designate a charity of your choice as a first, second or contingent beneficiary of your IRA assets after your lifetime.
Contact your IRA plan administrator to make a gift from your IRA to Mount Nittany Health Foundation. If you would like your gift to be used for a specific program, please contact us at 814.234.6777 to discuss designation options. Click here to learn more about IRA charitable solutions.
For more information on the many benefits of making a planned gift, and to sign up for our planned giving e-newsletter, visit us at mountnittanylegacy.org.
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