IRA Charitable Rollover

You may be looking for a way to make a big difference to help further the mission of your FUMC Killeen. 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 (also known as Qualified Charitable Distribution) allows donors to transfer funds directly from their traditional IRA to a charity/church annually. 
 
 

Benefits of an IRA charitable rollover

  • Avoid taxes on transfers of up to $100,000 from your IRA
  • Satisfy part or all of your required minimum distribution (RMD) for the year
  • Reduce your taxable income
  • Help further the work and mission of FUMC Killeen

How an IRA charitable rollover gift works

  1. Contact your IRA plan administrator to make a gift from your traditional IRA to FUMC Killeen
  2. Your IRA funds must come directly to FUMC Killeen from your plan. (You cannot receive the cash first.)
  3. Please note that IRA charitable rollover gifts do not qualify for a charitable deduction on your church contribution statement

 

Contact us

Please let Lisa Marshburn know if you are sending a gift from your IRA or if you have any questions.

 

Note:  Contact your financial advisor to see if the IRA Charitable Rollover is a good option for you. The foregoing information is intended as general information only and is not intended as legal, tax, or other professional advice. Donors and others should consult their own tax professional(s) for specific legal or tax advice on this matter.