Leaving Your IRA to CMDA: A Smart and Simple Way to Give

July 5, 2021
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Many people make the mistake of leaving their IRA, 401(k) or other retirement funds to family, and then giving entirely different gifts from their will to charity. In most cases, this is the exact opposite of what should happen.

When you leave your retirement funds to family, you create a taxable event. This gift will be treated as income when they withdraw the funds, and your loved ones will be taxed accordingly.

However, by giving those funds to CMDA, you eliminate the tax bill and provide meaningful support for this mission that means so much to you. Then, you can give more tax-efficient gifts from your will to provide for the needs of your loved ones.

How do you give retirement funds to ministry? It’s actually quite simple. You can…

  • Designate CMDA as a beneficiary on the forms provided by your account manager, specifying the amount you want to give.

OR

  • If you would like to give your retirement funds to multiple charities, consider working with our trusted partners at Barnabas Foundation. Simply list Barnabas Foundation as the charitable beneficiary on your beneficiary designation forms. Then, you provide Barnabas Foundation with a list of your favorite ministries (and the percentage you want each to receive). They’ll take care of the distributions, at the proper time.

Is leaving your retirement funds to CMDA the right giving option for you? Call Paul Montgomery at 423-844-1011 or email paul.montgomery@cmda.org to learn more.

Christian Medical & Dental Associations®

About Christian Medical & Dental Associations®

The Christian Medical & Dental Associations® (CMDA) is made up of the Christian Medical Association (CMA) and the Christian Dental Association (CDA). CMDA provides resources, networking opportunities, education and a public voice for Christian healthcare professionals and students. Founded in 1931, CMDA provides programs and services supporting its mission to "change hearts in healthcare" with a current membership of over 13,000 healthcare professionals. CMDA promotes positions and addresses policies on healthcare issues; conducts overseas medical education and evangelism projects; coordinates a network of Christian healthcare professionals for fellowship and professional growth; sponsors student ministries in medical dental, PA, and other healthcare training schools; distributes educational and inspirational resources; hosts marriage and family conferences; provides developing world missionary healthcare professionals with continuing education resources; and conducts academic exchange programs overseas. By being the "hands of Jesus" to needy people, CMDA seeks to fulfill His Great Commandment (Matthew 22:39; 25:36) and His Great Commission (Matthew 28:19). The Christian Medical & Dental Associations® is a 501(c)3 and is governed by a Board of Trustees and House of Delegates. Policies of CMDA are interpreted and applied by the Board of Trustees, which also establishes the guidelines for the executive director and his staff. An elected House of Delegates assists the board with recommendations on courses of action. The House of Delegates is composed of graduate, student, resident and missionary members who are elected for three-year terms by district and meets annually at the CMDA National Convention. Approximately 75 employees currently make up the staff of CMDA in the national office and U.S. field offices.

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