Diane Fasching has been an advocate of hospice care since the 1970s, when she helped found South County Hospice, which later merged with HopeHealth. Fasching was a member of HopeHealth’s Board of Directors for decades and now serves on the organization’s President’s Council.  

When Fasching retired from a long career with Gilbane Building Company, she reviewed her philanthropic giving. “I’m living on a fixed income now, which I thought would limit my donations to the organizations I love,” she said. But her accountant told her that she could give to HopeHealth directly from her IRA—and that making donations this way would lower her tax-deductible income. 

People who are over 70 ½ can make a donation to a nonprofit organization—like Fasching did for HopeHealth—directly from an IRA. Not only is the gift not subject to taxes, but it may also lower your taxable income. While everyone’s situation is different, this strategy can make a difference for most donors. 

According to Fasching, “HopeHealth is my number one charity, but I also make other more modest donations through my IRA. It really feels like a win-win to me.”