Planned Giving Home Back to Main Website
  • Professional Advisor Resources
  • Text Resize
    Print This
    Email This
    Calculate Plan
    Contact Us
    View Video

    IRA to Gift Annuity Rollover

    You may be looking for a way to help further our mission and enhance your income. If you are 70½ or older, you can make a one-time IRA rollover to fund a charitable gift annuity and receive fixed payments for life.

    Benefits of an IRA to gift annuity rollover

    • Reduce your taxes with a one-time transfer of up to $53,000 from your IRA to a Gift Annuity
    • Receive lifetime fixed payments for you and, if you choose, for your spouse
    • Potentially reduce your required minimum distribution (RMD) this year
    • Help further the work and mission of The Salvation Army - Midland Division

    How an IRA rollover to gift annuity works

    1. Contact us about creating an IRA rollover to gift annuity with The Salvation Army - Midland Division.
    2. Contact your IRA plan administrator to make a one-time qualified charitable distribution (QCD) of up to $53,000 from your IRA to The Salvation Army - Midland Division.
    3. We will use your IRA gift to fund your gift annuity payments.
    4. Please note that IRA gifts do not qualify for a charitable deduction.
    5. After you receive payments for life, there will be a future gift to us.
    6. Please contact us if you wish your future gift to be used for a specific purpose.

    Contact us

    If you have any questions about an IRA rollover to a gift annuity, please contact us. We would be happy to assist you and answer any questions you might have.