IRA Charitable Rollover
An IRA charitable rollover allows individuals 70½ and older to reduce their taxable income by making a gift directly from their IRA.
You may be looking for a way to make a big difference to help further MVNU's mission. If you are 70½ or older you may also be interested in a way to lower the income and taxes from your IRA withdrawals. An IRA charitable rollover is a way you can help continue our work and benefit this year.
Benefits of an IRA charitable rollover
- Avoid taxes on transfers of up to $108,000 from your IRA to MVNU
- Satisfy your required minimum distribution (RMD) for the year
- Reduce your taxable income, even if you do not itemize deductions
- Make a gift that is not subject to the deduction limits on charitable gifts
- Help further the work and mission of MVNU
IRA charitable rollover video
How an IRA charitable rollover gift works
- Contact us about creating an IRA rollover to gift annuity to support Mount Vernon Nazarene University.
- Contact your IRA plan administrator to make a one-time qualified charitable distribution (QCD) of up to $54,000 from your IRA to the Church of the Nazarene Foundation, which administers gift annuities for MVNU.
- The Foundation will use your IRA gift to fund your gift annuity payments.
- Please note that IRA gifts do not qualify for a charitable deduction.
- After you receive payments for life, the balance remaining in your account will be transferred to MVNU from the Foundation.
- The gift will be used by MVNU as you have directed. 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 charitable rollover gift, please contact us. We would be happy to assist you and answer any questions you might have.
