Memorial Sloan Kettering

51003_MSK_FallNews_K4_Pages

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PAGE 3 You still have time to make a significant impact on MSK discoveries and care by the end of the year. Below are some assets you may not have considered in your charitable giving that may provide you with tax-related benefits. These giving vehicles include: IRA DISTRIBUTION • If you are 59½ or older, you can take a penalty-free distribution from your IRA and use those funds to make a gift to MSK. You could then receive a charitable deduction for the amount you donate to MSK. • If you are 70½ or older, you can make a tax-free transfer of up to $100,000 from your IRA directly to MSK. And if you are 72 or older and have a required minimum distribution, this transfer can satisfy your RMD. TO DO: We must receive your gift by Dec. 31 for your donation to qualify this year. If you have check-writing privileges on your IRA, please mail your check by Dec. 18 to allow time to process your gift. Please note: the transfer must be made between your IRA account and MSK's account to be eligible for this tax treatment. APPRECIATED STOCK When you give with appreciated stock that you've held for more than one year, you may: 1) avoid paying taxes on the increase in value Important Year-End Considerations We know that you support MSK because you care deeply about our mission. By making a gift at the end of the year, you can further MSK's research and care while also qualifying for tax benefits. HOW TO MAKE A TRIBUTE GIFT If you know someone who values MSK's exceptional cancer care, consider making a donation in their honor. These tribute gifts are also a meaningful way to remember loved ones who are no longer with us. and 2) qualify for a charitable deduction based on the fair market value of your stock on the date of sale. TO DO: Complete all stock transfers by Dec. 31. DONOR-ADVISED FUND Establish or contribute to your donor-advised fund to receive tax savings this year. If you already have a funded DAF, consider recommending a grant (or a recurring grant) to MSK to make a difference for people with cancer today. TO DO: Complete your contribution to your DAF by Dec. 31 in order to receive a charitable deduction this year. You may also recommend a grant to MSK before year-end, but you will only receive a deduction when you contribute to your DAF, not when recommending grants. Let's Chat! Our team is here to assist you. Please feel free to contact us at plannedgiving@mskcc.org or 800-688-1827 to discuss your options.

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