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IRA Charitable Rollover

IRA Charitable RolloverIRA Charitable Rollover

 

The IRA Charitable Rollover, also known as a qualified charitable distribution (QCD), provides you with an excellent opportunity to make a gift during your lifetime from an asset that would be subject to multiple levels of taxation if it remained in your taxable estate. Under 2015 federal legislation, you can use your Individual Retirement Account (IRA) to make a gift to a charitable institution, including The Mother Church.

Individuals age 70 ½ and older can instruct their IRA administrators to make a distribution directly to The Mother Church and exclude the amount of the gift from their gross income for federal tax purposes.

By making an IRA charitable rollover, you can:

  • Satisfy the required minimum distribution.
  • Avoid federal and, in many cases, state income taxes.
  • Support The Mother Church with a tax-free gift.

To be eligible:

  • You must be 70 ½ years of age or older at time of distribution.
  • Total charitable gifts cannot exceed $100,000 per taxpayer each year.
  • Transfers from traditional and Roth IRAs must be made directly from the account administrator to The Mother Church.
  • Distributions must be made directly from the IRA to The First Church of Christ, Scientist when the donor normally takes an IRA distribution. Those donors with check-writing priviledges on their IRA accounts can write individual checks from the IRA to the Church.  Other donors should contact their IRA Administrator to ensure the proper details to make the distribution are correct.
  • The gift date for an IRA gift is the date the funds leave the donors IRA account.

To make a gift from your IRA:

  1. Instruct your IRA administrator to mail a check, payable to:
         The First Church of Christ, Scientist
         Office of the Treasurer
         210 Massachusetts Avenue
         Boston, MA  02115
         
  2. Ask your administrator to include the following information in the memo line of the check, or in an accompanying letter: 
     • The designation of your gift (e.g. The General Fund)
     • A notation that this check constitutes a qualified charitable distribution from your IRA.|
     

E-mail: 
philanthropy@csps.com
Phone: 
800-288-7155 ext. 3288
Mail: 
Office of the Treasurer, P2-02, Philanthropy Team, 210 Massachusetts Avenue, Boston, MA 02115