IRA and Stock Donations
Change Lives and Lower Your Taxes
An IRA charitable rollover or donating stocks or bonds to Moffitt are great ways to help accelerate scientific advances in cancer research and receive tax benefits.
If you'd like to reach out to Moffitt about IRA or Stock distributions, please contact (813) 745-1403 or Campaign@Moffitt.org.
IRA Charitable Rollover
If you are 70½ years of age or older you can transfer up to $100,000 from your individual retirement account (IRA) directly to Moffitt to support cancer research and patient care. You do not pay income taxes on these distributions, and they can be used to satisfy all or part of your required minimum distribution. In addition, because the transfer is tax-free and does not involve a charitable deduction, you can benefit even if you do not itemize your deductions.
For more information about IRA Charitable Rollover please reach out to Mandy Donohue through (813) 745-1403 or PlannedGiving@moffitt.org.
Gifts of appreciated securities (stocks, bonds, and mutual funds)
When you donate appreciated securities held more than one year such as stocks, bonds or mutual funds to support cancer research, you receive added tax benefits, including:
- A charitable contribution deduction based on the full fair market value of the securities
- Avoidance of the capital gains tax that would otherwise be due when you sell the appreciated stock, bonds, or mutual funds
To make your donation go even further, you can fund a charitable gift annuity or charitable remainder trust with your appreciated securities. This may allow you to avoid all or a large portion of the capital gains tax and receive an income for life for you or for a loved one, all while helping future generations of Moffitt Cancer Center researchers.
If you are concerned about the timing of your gift, please be sure to work closely with your broker or mutual fund company to ensure that the shares are transferred in a timely manner. Mutual funds usually take a little longer to transfer, as each mutual fund company has its own requirements for making charitable contributions. Allow at least one month for the transfer.
Cash gifts or wires
Cash donations can be made outright in a single installment or as a pledge to be fulfilled over a period of one to five years. A cash gift may entitle you to a charitable deduction of up to 50 percent of your adjusted gross annual income with a carry-over provision of up to five years, should the value of your gift exceed 50 percent of your adjusted gross income.
Prefer to make a gift via wire transfer? For wire transfer instructions please contact us at (813)745-1403 or Campaign@Moffitt.org.
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your benefits.