Emergency Economic Stabilization Act of 2008
Positive Impact for Charitable Donations
One of the items included in the recent "bailout" or "rescue plan" extended for 2008 and 2009 the ability for some taxpayers to make tax free distributions from IRA's to public charities. This is advantageous to any individual over the age of 70.5 who has an IRA and who reluctantly has to take a fully taxable distribution each year, whether or not they need the income.
The tax free distribution limit is $100,000 per year. The withdrawal satisifed minimum distribution requirements for IRAs.
This provision is beneficial to any taxpayer in any state. However, Indiana taxpayers enjoy the added benefit of avoiding federal, state and county taxes on the withdrawals and distributions to charity. Of course assets removed (tax free) from an IRA today are also out of the donor's taxable estate. Some taxpayers with large IRAs and large estates could see their IRAs reduced 75% by estate, inheritance, and federal, state and county income taxes at death. Many taxpayers welcome the opportunity to remove some of these assets and gift them to their favorite charities tax free.
If you would like more information on how the Emergency Economic Stabilization Act of 2008 might positively impact your ability to donate to the Riverview Hospital Foundation, click here or call Kristen Cooper at (317) 776-7938.
Riverview Hospital Foundation Overview
Since its beginnings in 1976 as the fundraising arm of Riverview Hospital, the Riverview Memorial Foundation’s goal has been to support and help expand healthcare services offered to our community. Contributions to the Foundation have totaled more than $10 million.
Donors can realize their charitable and other financial objectives by making gifts to the Hospital through outright donations of cash or securities, property, or corporate matching gifts. Making a deferred bequest by will, life income gifts, or life insurance offers many benefits to both the donor and the Hospital.
98% of donations since the Foundation's inception have gone to purchase technology, enhance capabilities and expand the services of hospital departments such as: Cardiology and Cardiac Rehabilitation, Pediatrics, Oncology, the Women's Pavilion; Community Health Clinic, Emergency Center Expansion, and Surgery. 1% is allocated to purchase plaques which are located at the Hospital's Emergency entrance to recognize our generous contributors.
Please call the Riverview Memorial Foundation at (317) 776-7447 or email at
give@riverview.org to learn more.
Your gifts help support important projects
The Riverview Memorial Foundation presented a $760,000 gift to Riverview Hospital at the Riverview Board of Trustees meeting in January 2007.
The gift includes the fulfillment of a pledge to the Riverview Women’s Pavilion ($500,000), as well as efforts to assist in the relocation of the Riverview Community Health Clinic ($250,000), and purchase pediatric beds for Riverview’s newly-opened Women’s and Children’s unit ($10,500 donated by Riverview employees).