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. Under the SECURE Act of 2020 the age at which taxpayers are eligible to make tax-free charitable rollovers is still 70 ½ however, the age at which required minimum distributions (RMD) are required has been moved from 70 ½ to 72.
If you are an IRA owner over the age of 70½, you may take distributions (totaling up to $100,000 per year) as a tax-free charitable gift directly from your IRA to Wider Church Ministries or Division of Overseas Ministries before December 31st each year. These gifts will not be included in your adjusted taxable gross income for that year. Also, if you are over the age of 72, an IRA Charitable Rollover may fulfill part or all of your required minimum distribution (RMD). 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 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