Gifts From Your IRA

One of the simplest gifts you can make using your IRA is to name your church or the Oklahoma Methodist Foundation as a remainder beneficiary. When you do, funds transfer to your church or the Foundation when you pass away. Please see our earlier section on beneficiary designations to accomplish this.

However, if you must deal with a required minimum distribution, your IRA may offer you some surprising options.

If you are 73 or older, the government requires you to distribute money from your IRA. Rather than take the distribution yourself, you can instead direct your account administrator to make it to your church or the Foundation. You can satisfy up to $111,000* of your RMD with this qualified charitable distribution (QCD).

You can start giving through QCDs at age 70½, this is also called an IRA charitable rollover. To be successful, you cannot take the distribution yourself but must instruct your provider to make the distribution directly to your church or the Foundation.

Another option is to fund a Charitable Gift Annuity (CGA) from your IRA and receive payments for life. Spread income taxes over the life of the annuity.

Need Help Setting Up Your Gift ?

Contact the Oklahoma Methodist Foundation for more information and assistance.