A beneficiary designation gift is a simple and affordable way to make a gift to support The Christian Broadcasting Network. You can designate us as a beneficiary of a retirement, investment or bank account or your life insurance policy.
Benefits of an IRA charitable rollover
- A tax-free distribution on transfers of up to $100,000 from your IRA to Billy Burke World Outreach
- Satisfy your required minimum distribution (RMD) for the year
- Reduce your AGI and taxable income, even if you do not itemize deductions
- Lower adjusted income may benefit you by minimizing your Medicare premiums or lowering the tax levied on your Social Security benefits
- Make a gift that is not subject to the deduction limits on charitable gifts
- Help further the work and mission of Billy Burke World Outreach
It’s a Simple Process!
- Contact your IRA plan administrator to make a gift from your IRA to us.
- Your IRA funds will be directly transferred to Billy Burke World Outreach to help continue our important work.
- Please note that the charitable IRA donation is an exclusion from income and therefore does not qualify for a charitable deduction.
- Please contact us if you wish for your gift to be used for a specific purpose.
The method used to make a bequest will depend on the kind of gift you choose to leave to Billy Burke World Outreach.
Bequests of real estate, personal property, business interests and cash are typically made by way of a will, revocable trust or even a simple codicil to your current estate plan. Your estate-planning attorney can assist you in preparing the necessary papers for you to complete the bequest.
Other bequests, such as those involving retirement assets, insurance policies, bank accounts and stocks and bonds, are typically made by completing the appropriate beneficiary designation form. Simply contact your retirement plan administrator, life insurance company, bank or investment broker and ask them to send you the appropriate “beneficiary designation” or “payable on death” form. To complete your bequest, you will need to complete and sign the form and then send it back to the person who originally sent the form to you.
The last step in leaving any bequest involves the transfer to charity. When you pass away, the bequest property will be transferred to The Christian Broadcasting Network. The full value of this gift will be transferred tax-free and your estate will receive an estate tax charitable deduction.
If you have any questions about an IRA charitable rollover gift, please contact us. We would be happy to assist you and answer any questions you might have.
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