IRA to Gift Annuity Rollover
You may be looking for a way to enhance your income and help further our mission. 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 $54,000 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 Mount Vernon Nazarene University
IRA to gift annuity video
How an IRA rollover to gift annuity 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, there will be a future gift 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 rollover to a gift annuity, please contact us. We would be happy to assist you and answer any questions you might have.
