IRA Charitable Rollover
You may be looking for a way to make a big difference to help further your ministry of choice. If you are 70½ or older you may also be interested in a way to lower the income and taxes from your IRA withdrawals. An IRA charitable rollover is a way you can help continue ministry work and benefit this year.
Flowchart: Donor directs IRA custodian to make an IRA charitable rollover gift to Ministry.
Benefits of an IRA charitable rollover
- Avoid taxes on transfers of up to $100,000 from your IRA to a qualified charitable organization
- May satisfy your required minimum distribution (RMD) for the year*
- Reduce your taxable income, even if you do not itemize deductions
- Make a gift that is not subject to the deduction limits on charitable gifts
- Help further the work and mission of the Kingdom
*The CARES Act has waived RMD requirements for 2020.
How an IRA charitable rollover gift works
- Contact your IRA plan administrator to make a gift directly from your IRA.
- Please note that IRA charitable rollover gifts do not qualify for a charitable deduction.
- Please contact us if you wish for your gift to be used for a specific purpose.
If you have any questions about an IRA charitable rollover gift, please contact us. We would be happy to assist you and answer any questions you might have.
PLEASE NOTE THAT ALL PERSONS WISHING TO MAKE A CHARITABLE IRA ROLLOVER GIFT MUST CONTACT OUR OFFICES (800-325-8975) PRIOR TO INITIATING THE GIFT WITH THEIR IRA CUSTODIAN.