Gifts of Retirement Assets

Many people wisely take advantage of tax incentives to contribute to IRAs, 401(k)s, and similar plans. These funds are often an individual’s largest asset and are typically not used up during a lifetime. Donating part or all of your unused retirement assets, such as your IRA, 401(k), 403(b), pension or other tax-deferred plan, is an excellent way to make a gift to Cru. Read on to find out how you can use your retirement assets to expand your gospel impact in the world.

Get the most from your retirement assets

Did you know that 50%-60% of your retirement assets may be taxed if you leave them to your heirs at your death? The IRS regards any remaining balance left in your retirement account to be untaxed income. That means if you leave that balance to your heirs, the IRS will subject it to both income and estate tax. You have options to reduce this potential tax hit without depriving your loved ones.

You can name Cru as the beneficiary of your retirement plan to support your favorite Cru ministry or the work of a Cru missionary—and then use other tax-advantaged assets (such as real estate or stock) to make gifts to children, family and friends. As a nonprofit organization, Cru won’t pay income tax on the distribution. Even if your estate is not large, there are still significant tax advantages to making charitable gifts with retirement plan assets.

How to transfer your retirement assets

Your retirement assets may be transferred to Cru by completing a beneficiary designation form provided by your plan custodian. If you designate Cru as beneficiary, we will benefit from the full value of your gift because your IRA assets will not be taxed at your death. Your estate will benefit from an estate tax charitable deduction for the gift.

For your gift to be properly allocated according to your intentions, please inform us of your beneficiary designation by using our Declaration of Intent Form.

FREE Estate Design Service

Cru Foundation offers Cru partners a FREE Estate Design Service to build personal strategies for stewardship and prepare well for the future. We help you go beyond tools, techniques and taxation by looking at your life’s work through the lens of God’s ownership. Learn more about our Estate Design Service!