Qualified Charitable Distributions

If you are 70 and 1/2 or older, you can give up to $100,000 per year from your IRA to DOVE International, a qualified charity. If you are married and file a joint tax return, the limit increases to $200,000 each year. This avoids income tax on that  distribution, allowing 100% of the distribution to be given.

Required minimum distributions can be given as IRA qualified charitable distributions.

NEW INFORMATION! IRA Retirement Accounts and Giving

DOVE International, through changes now offered by the IRS, has new ways of giving from your retirement accounts that will save you from tax consequences in the coming years.

You can make a charitable IRA rollover gift.

Those of us who are 70 ½ or older may rollover IRA funds to ministries tax-free, up to $105,000 (2024). Qualified Charitable Distributions are a tax-free direct transfer of IRA funds to DOVE. Who qualifies?

  • You must be age 70 ½ or older at the time the gift is made.
  • You must request from the IRA plan custodian a direct transfer of funds to DOVE for the gift to be tax-free. You do not take possession of these funds. It is a direct transfer from your IRA to DOVE International.
  • Gifts may also be used to satisfy your IRA required minimum distribution (RMD’s) once they begin.
  • Each person may give up to $105,000 annually (2024).

What about your 401retirement account? Funds held in 401(k), 403(b), or tax-deferred annuity plans are not eligible but may be rolled over into a standard IRA, then used to make tax-free gifts to ministries. However, gifts from a SEP-IRA and SIMPLE IRA may qualify but this should be discussed with your professional tax advisor or plan administrator.

When instructing your IRA plan custodian to make a gift, please request that your name and address as the donor be included with the check, or contact us in advance to provide this information so we may credit it to your account accurately.

Secondly there is now a one-time opportunity to fund a “Life-Income” gift with a QCD

Effective January 1, 2023, the Secure Act 2.0 allows traditional IRA account holders to donate a one-time option directly from their IRA to fund a life-income gift. This Qualified Charitable Distribution (QCD) comes tax-free to DOVE International directly from your IRA administrator and can fund a Charitable Gift Annuity (CGA) for up to $53,000 (For 2024). The CGA pays income to you, your spouse, or both of you for your lifetime(s), beginning immediately. Your annuity rate must be 5% or higher and all QCD-CGA payments will be taxed as ordinary income. You must be 70-1/2 or older to make a QCD and your gift is not tax deductible.

Please check in your financial advisor to take advantage of these two opportunities. Thank you for considering DOVE International in your giving!

We are so grateful and honored that you are sowing into what God is doing for the Kingdom through DOVE.

If you have any questions, please contact  Brian Sauder by email at legacy@dcfi.org. or call 717.627.1996.

Intention to Donate

Please complete this form to notify us of your intention to donate. After submitting this form you will be sent instructions for the correct pathway to complete your donation. This form is not a donation itself but will help us follow your planned gift through its process and steward it well.

DOVE International recommends that you discuss financial matters with your financial, tax and legal advisors when making decisions regarding your specific circumstances.