You Can Now Donate from Your IRA and Receive Fixed Payments for Life

You Can Now Donate from Your IRA and Receive Fixed Payments for Life

By Michael Morse, Executive Director, Catholic Community Foundation of Southwest Florida.

With the passage of the SECURE Act 2.0 on December 29, 2022, individuals can now establish a charitable gift annuity with the Catholic Community Foundation of Southwest Florida through a qualified charitable distribution (QCD) from their individual retirement account (IRA).

Charitable gift annuities date back to 1919 but remain a great way for donors to support their favorite charity and received fixed payments for life in return.  Donors have historically established gift annuities with gifts of cash, stock, or other appreciated assets.  The ability to fund a gift annuity with a distribution from an IRA is a brand-new option.

A major benefit of this new option for donors that are 73 or older, is that the QCD contribution will count toward the annual required minimum distribution (RMD) from their IRA.  Donors will also benefit from the security of a fixed income from the Catholic Community Foundation for the remainder of their and/or their spouse’s life.  Additionally, donors will be providing future support to the Catholic Parish, School or entity about which they care most.

 In order to establish a charitable gift annuity using a QCD from an IRA, you must be at least 70 ½ years of age at the time of the transfer, the annuity can only benefit the donor and/or their spouse, and it must come from a traditional IRA.  This option can only be used in a single calendar year during the donor’s lifetime and there is an aggregate limit of $50,000 per taxpayer.  A married couple can each contribute $50,000 from their respective IRAs for a total of $100,000.

It is important to remember that there is no federal charitable income tax deduction for the QCD transfer.  Also, when using a QCD to establish a charitable gift annuity, the payments received by the donor(s) will be subject to ordinary income tax.

 For donors interested in establishing their Catholic Legacy by supporting the long-term sustainability of the Church, while at the same time generating lifetime payments for themselves, a charitable gift annuity with the Catholic Community Foundation may be a great option.

If you would like to learn more about establishing a charitable gift annuity with the Catholic Community Foundation, or if you would like to learn more about other gifting options, please contact Michael Morse at 941-441-1124 or

Virtual Life Planning Seminars

Registration is Open Now!

Catholic Community Foundation of Southwest Florida, Inc.
Virtual Life Planning Seminars 2020
June 24th , June 25th, June 26th

Life Planning Seminar Information
Due to the coronavirus, many Parishes in the Sarasota, Collier, Lee, Charlotte and surrounding counties had to postpone the Life Planning Seminar that were originally scheduled at different parishes around the counties for this past spring. As a result of the numerous requests, the Catholic Community Foundation has scheduled these seminars virtually through Zoom Meetings. Going virtual will allow the attendees to view and learn right from the safety of their own homes.

Event Topics
Topics of discussion for these events are relative to those entering their senior years, already in their senior years, and those who care for senior relatives or friends. The Virtual Life Planning Seminar will allow those to obtain important information on
1. Making a will
2. Who can make health care decisions on my behalf?
3. Is my will from another state valid in Florida?
4. How can I leave my assets to my family?
5. Is there a more beneficial way to make donations?

Who will be presenting?
The interactive webinar will feature a local Catholic Estate Attorney, a local Catholic Financial Advisor and the Executive Director of the Catholic Community Foundation who will provide the participants with the knowledge they need to make critical health, legal and financial decisions.

Where can I register ?
All attendees will need to register ahead of time in order to join the meeting. Once registered the Catholic Community Foundation will send you an informative information sheet that can be used to help sign up with Zoom Meetings and contact information for the day of the event.
To register for the Virtual Life Planning Seminar:

Contact Information:
You can contact Kristin at the Catholic Community Foundation with any questions that you may have.
Kristin Office: 941-486-4722


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