IRA Rollover

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

How It Works

  • If you are 70½ or older, you can give up to $100,000 per year directly from your IRA to nonprofits such as Hood free from federal tax.
  • If you have not taken your required minimum distribution for the year, your IRA charitable rollover gift can satisfy all or part of that requirement.
  • The gift needs to be made by December 31 to qualify for the tax year.
  • To make such gifts, it is important to not withdraw funds prior to a gift, but have the gift amount distributed directly from an IRA to one or more qualified nonprofits.

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

When requesting a transfer of funds from your IRA to Hood College, please inform us of your gift by completing this online form. It is important to notify Hood to receive credit for your gift. Click here to let Hood know of your IRA gift.

For More Information:

Be sure to contact a tax professional and your IRA administrator. Please send a notification to your IRA administrator and Hood College using the forms above. For more information, contact or 301-696-3700.