Each year, the United Church Board for Ministerial Assistance relies on the Christmas Fund Offering for the Veterans of the Cross and the Emergency Fund to provide 60% of the annual funding needed to:
supplement low pensions;
supplement health benefits;
provide other direct assistance to retired clergy and lay employees; and
provide Christmas gift checks to low-income retirees.
IRAs are excellent vehicles for accumulating assets for your use during retirement, but less attractive for passing an inheritance to loved ones. When you name anyone other than your spouse as the beneficiary of your IRA, the income they receive is taxed as ordinary income and depending on their tax bracket can be as high as 35%. If your estate is subject to estate taxes, the percentage can be higher.
If you are considering a gift to the Fund for Ministerial Assistance, consider giving your IRA assets to us and giving other assets that are not as heavily taxed to family members.
As a nonprofit religious organization, 100% of your gift will go to our Ministerial Assistance program to assist retired clergy and lay church employees.
When Congress passed the American Taxpayer Relief Act on New Year’s Day, a special IRA giving opportunity was included.
The law allows taxpayers who are at least age 70½ with a traditional or Roth IRA to make tax-free distributions of up to $100,000 before December 31, 2013.
Request Distribution from Traditional
or Roth IRA for Charitable Purposes
Sample Letter to Request a Distribution from a Traditional or Roth IRA for Charitable Purposes
In this era of volatile stock markets and low interest rates, people often ask me about charitable gift annuities. Are they right for you? Maybe.
Most charitable gift annuity donors are retired, want to increase their cash flow, seek the security of guaranteed payments and would like to save on taxes. Charitable gift annuities provide a “certain return” during volatile economic times.
A charitable gift annuity could be right in the following circumstances:
Each year the Ministerial Assistance Board relies on the generosity of UCC members to support the Christmas Fund Offering for the Veterans of the Cross and the Emergency Fund.