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Download My KitA Tax-Saving Way to Help The Ministers and Missionaries Benefit Board of American Baptist Churches
Please note: The MMBB Comprehensive Plan, Retirement Only Plan, and Member Contribution Plan are all employer-sponsored 403(b) retirement plans (not IRAs) and therefore not eligible for MMBB members to withdraw funds as qualified charitable distributions (QCDs) from these plans. However, you can work with an MMBB financial planner to discuss transferring assets to an IRA and then, from the IRA to The Ministers and Missionaries Benefit Board of American Baptist Churches. Please note that required minimum distributions (RMDs) from MMBB plans cannot be rolled over to an IRA. To learn more, please contact MMBB at 1 (800) 986-6222 or send an email to service@mmbb.org to be connected to a financial planner who can assist you.
Make a difference today and save on taxes. It is possible when you support The Ministers and Missionaries Benefit Board of American Baptist Churches through your IRA.
You can give any amount (up to a maximum of $105,000) this year from your IRA directly to a qualified charity such as The Ministers and Missionaries Benefit Board of American Baptist Churches without having to pay income taxes on the money. Gifts of any value $105,000 or less are eligible for this benefit and you can feel good knowing that you are making a difference at MMBB. This popular gift option is commonly called the IRA charitable rollover, but you may also see it referred to as a qualified charitable distribution, or QCD for short.
No. You must be 70½ by the date you make the gift.
Yes. Direct gifts to a qualified charity can be made only from an IRA. Under certain circumstances, however, you may be able to roll assets from a pension, profit sharing, thrift savings plan (TSP), 401(k) or 403(b) plan into an IRA and then make the transfer from the IRA directly to The Ministers and Missionaries Benefit Board of American Baptist Churches. To determine if a rollover to an IRA is available for your plan, speak with your plan administrator.
Yes, absolutely. Beginning in the year you turn 73, you can use your gift to satisfy all or part of your RMD.
No. You can give any amount under this provision, as long as it is no more than $105,000 this year. If your IRA is valued at more than $105,000, you can transfer a portion of it to fund a charitable gift.
We must receive your gift by Dec. 31 for your donation to qualify this year. If you have check-writing features on your IRA, please be aware that your check must clear your account by Dec. 31 to count toward your required minimum distribution for the calendar year.
No. Under the law, you can give a maximum of $105,000 this year. For example, you can give each organization $52,500 this year or any other combination that totals $105,000 or less. Any amount of more than $105,000 in one year must be reported as taxable income.
If you have a spouse (as defined by the IRS) who is 70½ or older, they can also give any amount up to $105,000 from their IRA.
Yes! If you are 70½ or older, you may now make a one-time election for a qualified charitable distribution of up to $53,000 (without being taxed) from your IRA to fund a life-income gift. Some limitations apply, so contact us for more details and a personalized illustration at no obligation.
By making a gift this year of any amount up to $105,000 from your IRA, you can see your philanthropic dollars at work. You are jump-starting the legacy you would like to leave and giving yourself the joy of watching your philanthropy take shape. Moreover, you can fulfill any outstanding pledge you may have made by transferring that amount from your IRA as long as it is $105,000 or less for the year.
If you are at least 59½ years old, you can take a distribution and then make a gift from your IRA without penalty. If you itemize your deductions, you can take a charitable deduction for the amount of your gift.
No matter your age, you can designate The Ministers and Missionaries Benefit Board of American Baptist Churches as the beneficiary of all or a percentage of your IRA and it will pass to us tax-free after your lifetime. It’s simple, just requiring that you contact your IRA administrator for a change-of-beneficiary form or download a form from your provider’s website.
Tip: It is critical to let us know of your gift because many popular retirement plan administrators assume no obligation to notify a charity of your designation. The administrator also will not monitor whether your gift designations are followed. We would love to talk to you about your intentions to ensure that they are followed. We would also like to thank you for your generosity.
This comprehensive estate planning kit helps you protect your family and establish your legacy. FREE!
Download My KitThis comprehensive estate planning kit helps you protect your family and establish your legacy. FREE!
Download My Kit