Grace Cottage Foundation

IRA Rollovers

During the past year, five individuals have generously rolled over their IRAs to Grace Cottage Hospital, in amounts ranging from $500 to $50,000. All of these gifts are greatly appreciated. According to recent changes in IRS regulations, individuals who are 70½ in 2007 can make a direct tax-free contribution to a qualified non- profit (such as Grace Cottage Hospital) from a traditional IRA or a Roth IRA. Thanks to this change in IRS regulations, the donor doesn’t pay income taxes on the withdrawal when it goes directly to the charity. For more information, call Andrea or Mary at (802) 365-9109.