Donate with an IRA charitable distribution
Donating part or all of your unused retirement assets, such as your individual retirement account (IRA), is an excellent way to make a contribution to a charity like TMS Global. Charitable donations from an IRA may provide tax benefits as well.
Why donate from an IRA?
Donating from an IRA to a charity has benefits for both you and nonprofits.
Is donating from an IRA to charity tax deductible?
Qualified charitable distributions (QCDs) to eligible charities up to $105,000 avoid being subject to federal income taxes. You can make IRA-qualified charitable distributions from traditional IRAs, inactive Simplified Employee Pension (SEP) plans, and inactive Saving Incentive Match Plan for Employees (SIMPLE) IRA.
If you are age 70½ or above, you can make QCDs directly from your IRA to TMS Global or another eligible charitable organization. This distribution may be excluded from your federal taxable income and potentially provide other benefits.
You should consult a tax advisor or other professional for additional information regarding your specific situation.
How does a qualified charitable distribution work, and what qualifies as a charitable IRA rollover?
If you are over age 70½, you may give a gift from your IRA as a tax-free distribution to a qualified charity. This means an amount (up to $105,000 annually) transferred from your IRA directly to a charity like TMS Global can count toward your required minimum distribution without being considered taxable income for you. The deduction then lowers your adjusted gross income (AGI). The distribution, also known as an IRA Charitable Rollover, is authorized by Section 408(d)(8) of the Internal Revenue Code.
As a qualified charitable IRA rollover, the gift must be transferred from a traditional IRA directly to a qualified public charity like TMS Global and must be completed during the applicable tax year.
TMS Global must receive your gift by Dec. 31 for your IRA charitable distribution to qualify for that tax year.
TMS Global does not provide tax, legal or accounting advice. This material is prepared and made available to you for informational purposes only and is not intended to provide or be relied upon for tax, legal or accounting advice. You should always consult a tax professional to determine your particular tax benefits that may result from any particular type of gift to charity.
Can an IRA donation to charity count toward my required minimum distribution (RMD)?
If you're age 70½ or older and you need to take a required minimum distribution (RMD - the withdrawals you're legally required to make), you may be eligible to have a qualified charitable distribution to TMS Global count toward your RMD up to $105,000. In this way, you can support the children at TMS Global while also potentially satisfying your RMD in the year of your gift.
You should consult a tax advisor or other professional for additional information regarding your specific situation. Download a sample Letter of Instruction to get started gifting to TMS Global.
Please use the following legal name and tax identification:
Please use the following legal name and tax identification:
TMS Global
PO Box 936559
Atlanta, GA 31193-6559
Tax ID Number:
58-1546441
We are a tax-exempt, charitable institution listed in the Federal Internal Revenue Service Publication #78, "Cumulative List of Organizations," revised IRS Code 501(c)(3).
Your gift will help:
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Advance the kingdom of God, bringing about redemption and reconciliation through Jesus Christ |
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Train, mobilize, and serve cross-cultural workers and their children, in the US and around the world |
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Equip churches for mission through transformational coaching and training |
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Empower pastors to thrive in life, in their churches and in their unique missional calling |
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Prepare the next generation of believers to serve Christ cross-culturally |
We're here to help
Our partners at PhilanthroCorp can provide further information or help you prepare the right questions to ask your financial advisor to determine what type of planned gift may be right for you.
If you have made TMS Global part of your legacy through a bequest or will, please let us know so that we can honor your generosity and better plan for the future.
Email khembrough@tms-global.org, call 1-800-876-7958, or fill out the form below, and a PhilanthroCorp representative will contact you on behalf of TMS Global.