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.
It’s easy to make an IRA gift:
- Decide what percentage you would like us to receive.
- Contact your IRA administrator for change of beneficiary form.
- Name the United Church Fund for Ministerial Assistance as a beneficiary.
- Indicate the gift percentage on the form and return it to your IRA administrator.
- Let us know about your plans so we can thank you.
For additional information, please call us toll-free at 1.800.642.6543, ext. 2718.