Give From Your Retirement Plan

Give From Your Retirement Plan

A gift from your IRA today:
If you are 70 ½ or older, your IRA offers a tax-wise way to support SpiriTrust Lutheran® today.

With a Qualified Charitable Distribution you can: 

  • have an immediate impact on a SpiriTrust Lutheran® program that is meaningful or significant to you, tax free
  • make a gift of any amount, up to $100,000 per year ($200,000 for married couples with separate IRAs)
  • satisfy some or all of your required minimum distribution (RMD)*, decreasing your taxable income
*The SECURE Act of 2019 increased the age requirement from 70½ to 72 for RMDs; however, you can still make qualified charitable distributions at age 70½ with the additional benefit of lowering the amount of your future RMDs.

Who might benefit?

  • Donors with “carryover” deductions – these gifts have no impact on deductions
  • Non-itemizers – offers tax advantages even without a charitable income tax deduction
  • Everyone – may reduce amount of income subject to tax

Next Steps

  1. Contact us for additional information on giving an IRA gift.
  2. Seek the advice of your financial or legal advisor.
  3. Ask your IRA administrator to make a direct transfer to SpiriTrust Lutheran® or have the administrator send a check from your account to us.

Legal Name:            SpiriTrust Lutheran®
Address:                  1050 Pennsylvania Avenue, York, PA 17404
Federal Tax ID #:    23-1476329

A gift from your IRA tomorrow:
When you are planning for loved ones alongside SpiriTrust Lutheran® a beneficiary designation from a retirement plan can be the most cost-effective gift you can make. Because most retirement plans are funded with pretax dollars they are considered “income in respect of a decedent”. When individuals inherit such assets they need to pay income tax and potentially estate tax.

If you can make other provisions for your family, a better option for your retirement plan may be a charitable gift, which is not subject to income taxes. You simply designate SpiriTrust Lutheran as the beneficiary to avoid all tax obligations. You also can receive partial tax savings by naming SpiriTrust Lutheran as the beneficiary of a portion of your plan, with the remainder going to family.

Please consult your professional advisors before completing your gift. To help ensure that we can fulfill your wishes for your contribution, we encourage you to contact us as you plan.