Give and Receive with a Charitable Gift Annuity

In 1966, a Beatles song described how senior adults often feel when receiving a Required Minimum Distribution (RMD) from their traditional Individual Retirement Account (IRA):

“If you drive a car, I’ll tax the street. If you try to sit, I’ll tax your seat. If you get too cold, I’ll tax the heat. … ’Cause I’m the taxman, yeah, I’m the taxman.”

We all want to minimize taxes! While traditional IRAs are an excellent way to save for retirement, paying the income tax associated with withdrawals can be frustrating. Thankfully, Congress recently enacted changes that can help you avoid income taxes, maximize your ability to provide for yourself, and support international missions — all through a Charitable Gift Annuity, or CGA, for short.

A CGA is a charitable giving tool that allows you to make a gift to a ministry like IMB while simultaneously receiving tax benefits and guaranteed lifetime income. After your passing, the remainder of your gift is used for the ministry’s benefit.

Here are three great reasons to consider giving to the IMB through a CGA in 2023:

1. Receive dependable fixed payments for life.

Regardless of economic uncertainties or market conditions, CGAs pay the same fixed amount each year for your lifetime — and, if desired, your spouse’s lifetime. Today, when many consider a recession a possibility or even a probability, these gifts are excellent options for retirees looking for reliable sources of income that will not fluctuate with changing market conditions.

2. Lock in the highest available rates in decades.

Last year, the American Council on Gift Annuities raised payment rates — not once, but twice! This means seniors can receive nearly unprecedented returns from their CGAs, from 5 percent to as high as 9.7 percent. These rates significantly exceed those of CDs, and CGAs have the added ability to advance God’s kingdom with a gift to IMB after your passing. Use the CGA gift calculator at to get your customized rate today.

3. Fund a charitable gift annuity directly from your IRA.

If you own a traditional IRA and are age 70 ½ or older, you’re eligible to make Qualified Charitable Distributions ⟮QCDs⟯, also known as IRA Charitable Rollovers. A QCD satisfies your Required Minimum Distribution ⟮RMD⟯ and is excluded from your taxable income.

To reap the benefits of a QCD, do not withdraw funds personally because those funds will be taxable. Instead, instruct your financial institution to send a check or wire funds directly to IMB or the charity of your choice.

The tax advantages of CGAs are even more enticing for those over age 70 ½. For the first time in history, the recent passage of the SECURE Act 2.0 enables givers to make a one-time QCD from an IRA to fund a CGA. You are eligible to transfer up to $50,000, and spouses can combine their separate $50,000 QCDs into a single CGA. CGAs funded from other assets qualify for a tax deduction; however, since IRA assets are not subject to tax when transferred to the CGA, the annual payments to the giver will be taxed as ordinary income.

Contact us to learn more.

WatersEdge is a trusted IMB partner providing services that can potentially create wealth for families while financially benefiting ministries and charities. If you have questions about using a Charitable Gift Annuity as a strategic giving tool, it will be our pleasure to assist you.

Christa Rogers is Vice President of Client Engagement at WatersEdge Advisors.

Please contact for more information on how a CGA could maximize your generosity for IMB missionaries taking the gospel to the nations.