Congress extends provision for tax-free gifts to charity from IRA

For those aged 70½ or older, it is once again possible to make a tax free gift directly from your IRA to any WELS ministry.

On December 18, 2015 Congress passed legislation to extend the IRA charitable rollover for 2015 and beyond. Up to $100,000 per year can be transferred directly from an IRA to one or more qualified charities free from federal and potentially state income tax.

A WELS member can take advantage of this tax benefit by directing their annual required IRA minimum distribution directly to WELS Foundation. WELS Foundation will then distribute their gift per the donor’s instruction to any WELS ministry including their local congregation, WELS missions, or schools. (For a complete listing refer to the WELS Yearbook.) We encourage donors to speak with their tax and financial professionals before requesting a qualified charitable distribution from their IRA.

WELS Foundation is the foundation of choice for WELS members and ministries. For more information on how you can make this tax wise gift to any WELS ministry contact your WELS Christian giving counselor, mission advancement representative, or WELS Foundation (800-752-8940).