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3 Great Ways to Give From Your IRA

3 Great Ways to Give From Your IRA

An IRA is an appealing way to save for retirement: Make a contribution and enjoy tax savings. But eventually, the tax bill comes due — when you take your annual distributions and again when you leave your assets to heirs. If you want to avoid the tax bite and make an impact on our mission, consider a gift to Vail Health Foundation.

1. Make Your Gift Today

If you’re 70½ or older, you can make a tax-free gift (up to $100,000 in 2023) to our organization. Benefits include:

  • See the difference you’re making today.
  • Pay no income taxes on the gift. The transfer doesn’t generate taxable income or a tax deduction.

If you are required to take minimum distributions, your gift can satisfy all or part of your obligation.

2. Magnify Your Impact After Your Lifetime

You can name us as a beneficiary of your retirement account. This is a great option for extending support from your IRA beyond your lifetime. It costs you nothing today.

Here’s how:

  1. Contact your IRA administrator for a change-of-beneficiary form, or simply download a form from your provider’s website.
  2. Name Vail Health Foundation and the gift percentage on the form.
  3. Notify us of your plans so we can direct your gift in a meaningful way to you and your family as well as thank you.

3. NEW OPTION: Create a Charitable Gift Annuity

If you are 70½ or older, you can now use your IRA to create a gift that pays you. Get fixed, reliable income for life by making a one-time election for a qualified charitable distribution of up to $50,000 (without being taxed on the distribution). Because this option comes with special rules, we’d be happy to discuss whether this gift is right for you.

Whether you make your impact at Vail Health today or after your lifetime, your gift matters. Please contact Aaron Ciszek at 970.569.7574 or and Anne Walters at 970.569.7648 or to discuss your plans.

You may also visit our Planned Giving website to learn more and sign up for our newsletter.

Information contained herein was accurate at the time of printing. 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 any 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.

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