Eligible taxpayers (those over 70½ years of age) now have a beneficial way to support their favorite, qualified charities, including Wider Church Ministries or Division of Overseas Ministries, the two fiscal entities that make up Global Ministries. The Protecting Americans from Tax Hikes (PATH) Act of 2015 has been passed by Congress and signed by President Obama, which permanently extends the IRA Charitable Rollover.
If you are an IRA owner over the age of 70½, you may now take distributions (totaling up to $100,000 per year) as a tax-free Charitable Rollover to Wider Church Ministries or Division of Overseas Ministries before December 31st each year, and it will not be included in your adjusted taxable gross income for that year. Also, an IRA Charitable Rollover may fulfill part or all of your required minimum distribution (RMD) which are required beginning at age 72. Your IRA manager can provide you with the paperwork and additional information, if you are interested in making a gift to Wider Church Ministries or Division of Overseas Ministries through an IRA Charitable Rollover. For more information on making a charitable gift from your IRA, consult the UCC's reference guide to IRA Charitable Rollovers.
In addition to tax provisions regarding the IRA Charitable Rollover, there are also three other permanent charitable provisions in the recent legislation. Read an overview from the Christian Church Foundation on the Protecting Americans from Tax Hikes (PATH) Act of 2015.
For more information on how to make a gift to support the work of Global Ministries from your IRA, contact:
Office of Resource Development
P.O. Box 1986
Indianapolis, IN 46206-1986