Charitable IRA Rollover
Many LWR donors have discovered the benefits of making a gift using their Individual Retirement Account (IRA). If you are 70½ or older, you may be interested in this way to make a significant gift while lowering the income and taxes from your IRA withdrawals.
Benefits of an IRA charitable rollover
- Avoid taxes on transfers of up to $100,000 from your IRA to Lutheran World Relief
- 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 50% deduction limits on charitable gifts
- Help further the mission of Lutheran World Relief
How do I proceed?
- Check with your tax advisor to see if a gift from your IRA is appropriate for your situation.
- Contact your IRA plan administrator to make a gift from your IRA to Lutheran World Relief, using this sample letter of instruction.
- Contact LWR if you wish for your gift to be used for a specific purpose. Please advise LWR of your gift decision, using this sample letter of notification.
- Your IRA funds will be directly transferred to Lutheran World Relief, and you will receive our acknowledgement. Please note that a charitable IRA distribution does not qualify for a charitable tax deduction.
We would be happy to assist you and answer any questions you might have.