Legacy Giving
As 2025 comes to an end, consider the many ways you can help support American Baptist ministries and missions while enjoying tax and income benefits. Here are a few end of the year gift suggestions:
Charitable IRA Rollover Congress made permanent the law that allows people age 70½ or older who own an IRA to make gifts directly from their IRA to charity. For many people, this is the best tax-wise way to give. An IRA rollover gift will not be included in your taxable income and may qualify for your required minimum distribution. What type of donor are you?....
Easy IRA Gift
Generous IRA Donor
Major IRA Donor
Christina is a retired county administrator and a volunteer at her local church. Christina’s retirement plan with the county has grown substantially and she has almost $450,000 in her IRA. Since Christina has all of the income she currently needs, she decided to make a gift of $2,000 from her IRA to her church. Christina called her custodian and requested a transfer of $2,000. It was easy for Christina to make the gift and she liked the fact that she could help her church without increasing her taxes.
Joe is a retired Navy Officer and a regular supporter of American Baptist ministries and missions. He is an avid volunteer and makes annual cash gifts up to the Federal limit. However, Joe wanted to make a one-time gift to a particular ministry for a special project, without exceeding Federal limits or increasing his taxes. Joe decided to make a charitable gift of $10,000 from his IRA to his desired American Baptist ministry. He was able to continue to make his regular contributions in addition to the IRA gift. The satisfaction he gained from supporting ministry was immeasurable.
Richard is a retired investment advisor. He has watched his IRA blossom and grow through good investments. It now is the largest asset in his estate. Richard is a frequent volunteer for his ABC region and wanted to make a major gift to their endowment held at ABF. So, Richard contacted ABF for assistance. ABF helped through the process of contacting his IRA custodian. Richard had his IRA custodian send $105,000 directly to his Region to beneift their endowment. He and his CPA were both delighted - Richard made a wonderful gift and his tax situation was simplified.
The names and images shown here are representative of typical donors and may or may not be actual donors. Under federal rules your benefits may be different from this example. Copyright © 2024 Crescendo Interactive, Inc. Used by permission. This information is not intended as tax, legal or financial advice. Gift results may vary. Consult your personal financial advisor for information specific to your situation. 11
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