Tax Wise Gifts

Tax Wise Gifts

Now, more than ever, our needs are greater. You can make a difference in the fight against cancer with a tax-wise gift. Philanthropic support is essential to Barbara Ann Karmanos Cancer Institute researchers who work tirelessly to develop lifesaving protocols that have contributed substantially to therapeutic breakthroughs in cancer throughout Michigan and worldwide – giving patients and their families hope.

IRA Rollover/Qualified Charitable Distribution (QCD)

The IRA charitable rollover, also known as the qualified charitable distribution (QCD), is a popular gift option. You can give any amount (up to a maximum of $105,000) annually from your IRA directly to a qualified charity such as Karmanos Cancer Institute without having to pay income taxes on the money. This option helps donors feel good knowing that they are making a difference at Karmanos.

Why consider making a gift through your IRA?

  • Your gift will be put to use today, allowing you to see the difference your donation is making
  • When you turn 73, you can use your gift to satisfy all or part of your required minimum distribution (RMD)
  • You pay no income taxes on the gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your deductions
  • Since the gift doesn't count as income, it can reduce your annual income level. This may help lower your Medicare premiums and decrease the amount of Social Security that is the subject to tax

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Donor Advised Funds

Donor Advised Funds (DAF) are the fastest-growing giving method and tax-efficient way to manage charitable donations. Donor Advised Funds allow donors to make a charitable contribution, receive an immediate tax deduction, and then recommend grants from the fund over time.

Grants made to Karmanos Cancer Foundation through Donor Advised Funds can be designated for Karmanos to use wherever the need is greatest or designated to a specific program area.

Karmanos Cancer Foundation tax I.D. number is 38--3584572.

Clients of Fidelity Charitable, Schwab Charitable and BNY Mellon can easily make a donation by clicking here.

Thank you for considering a tax-wise gift to the Barbara Ann Karmanos Cancer Institute. With your financial support, we are able to do things to fight cancer that did not exist as far back as yesterday.

How to Make a Gift

Contact Denise Lowe at 248-226-2163 or email for more information.