CIRA Charitable Rollover

IRA Charitable Rollover

For Donors 70.5 years or older, you can use your IRA to make a charitable gift to Karmanos and help us fight cancer today.

Current legislation allows individuals age 70.5 or older to make a direct transfer of up to $100,000 from their IRA to Karmanos without having to recognize the transfer as taxable income.

Consider the IRA charitable rollover if you have excess IRA funds, or want to lower the amount of your required minimum IRA distribution. While there is no charitable deduction, there is also no tax when the distribution is a direct charitable rollover. You can use your IRA to make a gift to improve cancer care and advance the groundbreaking research taking place at the Barbara Ann Karmanos Cancer Institute.

Basic Provisions

  • You must be at least 70.5 years of age.
  • Tax benefits apply for gifts that total up to $100,000 per person per year.
  • You must transfer funds directly from an IRA to one or more eligible charitable organizations.

The law is applicable solely to make direct gifts to charity, not for planned gifts such as charitable gift annuities or charitable remainder trusts. Gifts cannot go to donor-advised funds or private foundations.

This is an easy way to benefit Karmanos Cancer Institute without tax complications.

    How to Make a Gift

    Karmanos Cancer Institute qualifies as an eligible organization.  

    1. Contact our office of Planned Giving at 313-576-8110 to inform us of your intent to make an IRA charitable donation.
    2. Contact your IRA administrator to transfer your desired amount.

    Use your IRA to make a tax-free charitable donation for your annual contribution, a major gift or to satisfy a current pledge.  Tax-free rollover gifts can be $1,000, $10,000 or any amount up to $100,000.  If a spouse has an IRA and is 70.5 or older, he/she can also give up to $100,000.

    For More Information

    Contact your financial advisor about whether an IRA rollover to the Barbara Ann Karmanos Cancer Institute meets your needs or call the Karmanos Office of Planned Giving.

    Karmanos Office of Planned Giving
    Liz Johnson, Analytical Services and Stewardship Officer at 313.576-8115, or johnsoli@karmanos.org  or Denise Lowe, Annual Fund Officer at 313.576-8110, or lowed@karmanos.org.  

    Barbara Ann Karmanos Cancer Institute
    4100 John R
    Mailcode: NC06DS
    Detroit, MI  48201