IRA to Gift Annuity Rollover
If you are 70½ or older, a one-time IRA rollover can fund a charitable gift annuity that provides reliable lifetime payments while helping sustain Cherry Street Mission’s work for years to come.
Benefits of an IRA to gift annuity rollover
- Reduce your taxes with a one-time transfer of up to $55,000 from your IRA to a gift annuity
- Receive lifetime fixed payments for you and, if you choose, for your spouse
- Potentially reduce your required minimum distribution (RMD) this year
- Help further the work and mission of Cherry Street Mission
IRA to gift annuity video
How an IRA rollover to gift annuity works
- Contact us about creating an IRA rollover to gift annuity with Cherry Street Mission.
- Contact your IRA plan administrator to make a one-time qualified charitable distribution (QCD) of up to $55,000 from your IRA to Cherry Street Mission.
- We will use your IRA gift to fund your gift annuity payments.
- Please note that IRA gifts do not qualify for a charitable deduction.
- After you receive payments for life, there will be a future gift to us.
- Please contact us if you wish your future gift to be used for a specific purpose.
Contact us
If you have any questions about an IRA rollover to a gift annuity, please contact us. We would be happy to assist you and answer any questions you might have.
