Gifts From Your IRA
Planned Giving Made Simple
If you are 70 ½ or older, you can make a sizable gift from an individual retirement account (IRA) to OneWay Ministries while also reducing your taxable income. This can also satisfy your Required Minimum Distribution. Watch this video to learn more.
How to Leave a Tax-Wise Legacy with Your Retirement Funds
Avoid Surprise Taxes for Your Loved Ones
Requirements of a Qualified Charitable Distribution
You can give from your IRA to ministry without paying federal income tax on the distribution, provided the gift qualifies as a Qualified Charitable Distribution (QCD). QCDs can also satisfy all or part of your Required Minimum Distribution (RMD), if applicable.
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IRA owners must be age 70½ or older on the date the distribution is made.
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You may give up to $111,000 per year, per person* through QCDs.
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Gifts must be made directly from the IRA custodian to a qualified charitable organization.
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Distributions to donor-advised funds, private foundations, and supporting organizations do not qualify as QCDs.
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QCDs may generally be made from traditional IRAs and Roth IRAs, as well as certain inherited IRAs. Employer-sponsored retirement plans such as 401(k)s, 403(b)s, and active SEP or SIMPLE IRAs are not eligible.
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As a one-time election, you may make a Qualified Charitable Distribution of up to $55,000 to fund a charitable gift annuity or certain charitable remainder trusts*. This amount counts toward your annual QCD limit.
*Annual limits are indexed for inflation and may change from year to year. Please consult your tax advisor regarding your specific situation.
Get in Touch
We'd love to help you identify smart and powerful solutions that fit your goals and situation.
Rachel Thompson
Director of Partner Relations
Phone: 630-626-4990
Email: smartgiving@owm.org
ONEWAY PARTNER
A friend shared a great tip with us: Since we are over 70 ½, we could direct all our giving to God’s work using pre-tax dollars from our IRA, as long as the contributions went straight from the IRA to the ministries we support.
This can both lower our taxable income and satisfy our required minimum distribution. It’s been a wonderful way to maximize our retirement funds while furthering God’s kingdom.
More Types of Planned Gifts
Stocks, Real Estate, Other Assets
Donate stock or mutual funds and potentially avoid paying capital gains taxes.
Gifts in a Will
Leave a legacy of reaching people by including OneWay Ministries in your will.
Gifts That Pay You Income
Give assets while earning income or deferring distributions to a later date.