"I really wanted to make a larger gift than normal," Daniel shared, "but I had questions about the best way to fund my gift. I was also concerned about conserving my cash resources for the future."

Because Daniel was over 70½, he learned he could use the IRA charitable rollover option to make a tax-free gift directly from his IRA.

"I knew that I didn't really need all the income from my IRA this year," he said. "I had enough income from sales of my investments to cover my living expenses."

Daniel transferred $54,000 from his IRA to the nonprofit. He continued making his regular charitable contributions without exceeding federal limits.

"I was thrilled to discover I could transfer money from my IRA without paying federal income tax. And it qualified toward my required minimum distribution - an added bonus!"

What is an IRA rollover gift?

If you are 70½ or older, an IRA Charitable Rollover is a way to make a gift to support the cause of Missouri Baptist Foundation from your IRA.

IRA rollover video

Is an IRA rollover gift right for you?

Individuals age 73 and older must take "required minimum distributions" from their IRA each year. With the IRA charitable rollover, these individuals can transfer up to $108,000 per year directly to a nonprofit organization, and it satisfies the required minimum distribution.

Have you calculated what your IRA required minimum distribution will be this year and how it will affect your taxes? If you have questions about how you can benefit from an IRA rollover, please feel free to contact us.

Please note: The information above is representative of a typical donor and may or may not be an actual donor to our organization.