Harvest Fund

Introducing: THE HARVEST FUND

If you have an IRA Rollover, opening a CFA HARVEST FUND is a smart way to stretch your dollars for charitable giving that is quickly gaining popularity for it’s TRIPLE savings effect on tax-free giving.

In the spirit of “planning for harvest,” CFA’s HARVEST FUND is a specially designed “Field of Interest Designated Fund” that allows you to use your IRA as a powerful source of charitable giving to support the charities, churches and ministries dear to your heart, and vital to community growth.

Who qualifies?

Seniors who are at least 70 ½ Years old and have an IRA account can make a “Qualified Charitable Distribution (QCD).” • This is a direct transfer to charity, and it counts towards your RMD-Required Minimum Distribution.
• The IRS does not allow a QCD into Donor Advised Funds.
• So at CFA we designed this “HARVEST FUND,” specifically to accept a QCD from your IRA.

Why start a HARVEST FUND, instead of giving directly to charities?

  • With ONE Harvest Fund, You specify a specific purpose, and charities you want to support. It allows for multiple charities.
  • Your Harvest Fund is managed by CFA based on the purpose and charities you have described in your Harvest Fund Agreement with CFA.
  • If you want any changes to your agreement, CFA works with you at the time you add a new QCD gift.
  • You do NOT have to include the amount of QCD in your Gross Income, keeping Adjusted Gross Income (AGI) lower.

Once you start a HARVEST FUND, CFA handles ALL the distribution payments FOR you. It’s like getting concierge-level services, with white glove management of a personal portfolio of the preferred charities that you pre-select. No more keeping track of multiple checks and receipts.

Reduce your taxable income

By rolling over some or all of your RMD from your IRA to charity, you may reduce your taxable income this year and possibly qualify for a lower tax bracket.

Lower your Social Security tax

Reducing your taxable income with an IRA rollover gift may also reduce the tax due on your social security payments.

Avoid IRS tax limits

IRA rollover gifts may be made over and above the normal cash gift limit. You can give up to $100,000 if you’re over 70.5 years of age—all tax-free!

Getting Started: It’s Easy!

A CFA Harvest Fund works like a tax-free donation directly to charity—but you aren’t limited to just one, nor are you required to itemize your tax return to realize benefits.

STEP 1: You direct your IRA administrator to transfer your IRA rollover into the Fund

STEP 2: You dictate distributions to your favorite charities or ministries.

STEP 3: CFA sends your designated charities money to support their work, in your name.

The Harvest Fund was specially designed to take advantage of a little known 2021 tax law passed to benefit Retirees age 70.5+

A CFA Harvest Fund is a type of Qualified Charitable Designation (QCD) known as a “Field of Interest Designated Fund,” which allows you to support the work of the charities and ministries dearest to you heart, while enjoying valuable tax and income benefits, too.

If you’re over 70 1/2, you can give up to $100,000 in QCD per year.

• These gifts also “count” to satisfy your Required Minimum Distribution (RMD) allotment.
• This means, you avoid paying taxes on that portion of RMD used up as a QCD to the Harvest Fund.
• When AGI is lower, it may reduce social security income that is taxable, and it may also keep medicare health premiums lower.

Using the “Harvest Fund” your QCD gift to charity stays OUT of your Adjusted Gross Income.

• That gives you a full deduction for your gifts to charity.
• All this without needing to itemize deductions on your tax return.
• Instead you’ll receive 100% of the benefit of charitable giving because it’s not in your AGI at all.
• Remember too- the charities who receive distributions from your Harvest Fund don’t pay taxes either—a win win!

Nonitemizers: Enjoy Charitable Gift Benefits!

If you do not itemize your deductions, you can still benefit from the reduction in income and tax resulting from an IRA rollover gift.

A New Source for Major Gifts!

If you wish to make a larger gift to a campaign or special cause, you may arrange to make that gift from your IRA rather than tapping into your bank account this year.

Regular Tither? Pay All Year with Pre-Tax Dollars

Many church-going folks opt to pay their TITHES from their Harvest account, tax-free, with checks going out to their church in their name, once a month. CFA handles it all for you!

Giving can transform every major aspect of your life. At Christian Foundation of America, we help you create a Giving plan that applies a scriptural perspective to five areas of generosity. Starting a Harvest Fund launches a whole new tax-smart way to give to the charities you love most!

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You’ve just taken an exciting step toward a vibrant Lifestyle of Generosity…

To help you on your way, we’ve prepared this seven-day devotional to walk you through the blessing of stewardship, and vividly illustrate how your giving can meaningfully transform YOU—and those lives you touch!