Skip to Main Content
Back to Main Website

Invest in the Future

Meet your financial goals and impact Rhodes College today and tomorrow.
Learn More

Giving Home > How to Give > IRA to Gift Annuity Rollover

IRA to Gift Annuity Rollover

You may be looking for a way to help further our mission and enhance your income. If you are 70½ or older, you can make a one-time IRA rollover to fund a charitable gift annuity and receive fixed payments for life.

Benefits of an IRA to gift annuity rollover

  • Reduce your taxes with a one-time transfer of up to $55,000 from your IRA to a gift annuity
  • Receive lifetime fixed payments for you and, if you choose, for your spouse
  • Potentially reduce your required minimum distribution (RMD) this year
  • Help further the work and mission of Rhodes College

IRA to gift annuity video

How an IRA rollover to gift annuity works

  1. Contact us about creating an IRA rollover to gift annuity with Rhodes College.
  2. Contact your IRA plan administrator to make a one-time qualified charitable distribution (QCD) of up to $55,000 from your IRA to Rhodes College.
  3. We will use your IRA gift to fund your gift annuity payments.
  4. Please note that IRA gifts do not qualify for a charitable deduction.
  5. After you receive payments for life, there will be a future gift to us.
  6. Please contact us if you wish your future gift to be used for a specific purpose.

Contact us

If you have any questions about an IRA rollover to a gift annuity, please contact us. We would be happy to assist you and answer any questions you might have.

Example Story

Consider Joan, a 73-year-old who would like to make a special contribution to support Rhodes College. Joan has substantial assets in her IRA and knows she is facing a RMD this year. Even though she does not really need the income, Joan knows the RMD is going to increase her income tax. Instead, Joan chooses to make a $55,000 QCD to Rhodes College in exchange for a charitable gift annuity that will pay her $3,618 (6.7%) per year for the rest of her lifetime. Joan understands she is allowed to make this election only one time but is looking forward to securing a stream of payments for her lifetime while reducing her RMD and making a generous contribution to further the mission of Rhodes College.