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.
- This amounts to up to $100K each year, even if you don’t itemize—and that’s $200K annually if you’re married, filing jointly and your spouse also has an IRA
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.
