Smart Giving from Your IRA
A Tax-Savvy Way to Support NYU Langone Hospitals or NYU Grossman School of Medicine
Make an impact while enjoying tax benefits. By giving through your IRA, you can support NYU Langone Hospitals or NYU Grossman School of Medicine in a simple, tax-efficient way. In some cases, a gift of retirement assets can increase the amount passing to both charity and to your heirs.
A Special Opportunity for Those 70½ and Older
If you’re 70½ or older, you can donate up to $108,000 from your IRA directly to a qualified charity like NYU Langone Hospitals or NYU Grossman School of Medicine without paying income tax on the gift. This option—known as an IRA charitable rollover or qualified charitable distribution (QCD)—allows you to make a meaningful difference while maximizing your giving potential.
Why Consider This Gift?
- Make an immediate impact: Your donation goes to work right away.
- Satisfy your required minimum distribution (RMD): If you must take an RMD, your gift can count toward fulfilling it.
- Enjoy tax advantages: The transfer doesn’t generate taxable income or a tax deduction, benefiting you even if you don’t itemize.
- Lower your taxable income: Reducing your annual income may help decrease Medicare premiums and lower the portion of Social Security subject to tax.
A Giving Option at Any Age
Designate NYU Langone Hospitals or NYU Grossman School of Medicine as a beneficiary of all or part of your IRA or retirement assets. Your gift will pass tax-free after your lifetime, ensuring a lasting impact. Simply request a change-of-beneficiary form from your IRA administrator or download one from their website.
A Quick Tip
Letting us know about your gift ensures your wishes are honored. Many retirement plan administrators do not notify charities of beneficiary designations or oversee their execution. We would love to thank you for your generosity, ensure your intentions are fulfilled and welcome you to our John Revere Society.
Frequently Asked Questions
Next Steps
- Contact Lynn Malzone Ierardi, JD, Senior Philanthropic Advisor for additional information or to learn more about the different options for supporting NYU Langone Hospitals or NYU Grossman School of Medicine with your gift.
- Seek the advice of your financial or legal advisor.
- If you include NYU Langone Hospitals or NYU Grossman School of Medicine in your plans, please let us know so we can be sure to welcome you to our John Revere Society.