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IRA Rollover

Make a Difference. Give to Hood with the 2014 Charitable IRA Rollover Tax Exemption.

On December 16, the Senate reauthorized the IRA charitable rollover through December 31, 2014 retroactive to January 1, 2014. Donors age 70 1/2 and older may transfer up to $100,000 from their IRA to a qualified public charity. The transfer will be made free of federal income tax and the gift qualifies for the donor's 2014 required minimum distribution (RMD). The President still needs to sign this bill. If you are interested in making a gift to Hood College via an IRA Rollover please keep in mind that it often takes IRA administrators several weeks to process rollover transactions. In order to complete the gift by year end, we suggest you contact your IRA administrators right away to find out more about this process.

Contribute funds this way if:

  • You are 70 ½ years or older.
  • Your IRA charitable gifts are $100,000 or less.
  • You transfer the gift outright to Hood College.
  • Your gift is made by December 31, 2014

Please complete steps one and two to make a gift from your individual retirement account.

Step 1: Contact your IRA Administrator

By filling out this letter and sending it either electronically or by mail to your individual retirement account administrator, you can make a gift directly from your IRA to Hood College and receive tax benefits. Click here to make a gift directly to Hood from your IRA.

Step 2: Notify Hood of your IRA Gift

After requesting a transfer of funds from your IRA to Hood College, please inform us of your gift by filling out this form and sending it electronically or by mail to the address below. It is important to notify Hood to receive credit for your gift. Click here to let Hood know of your IRA gift.

Hood College
Office of Institutional Advancement
Attn: Jaime Cacciola, Director of Major Gifts and Gift Planning
401 Rosemont Ave.
Frederick, MD 21701

For More Information:

Be sure to contact a tax professional and your IRA administrator. Please send notification to your IRA administrator and to Hood College using the forms above. For more information contact Jaime Cacciola, Director of Major Gifts and Gift Planning, at 800-707-5280 (option 7), 301-696-3828 or cacciola@hood.edu with any questions.