A Designated Fund with MB Foundation is an ideal account for making a charitable IRA rollover contribution, while avoiding personal income tax on IRA distributions. A qualified Traditional IRA or Roth IRA owner, who has attained the age of 70 ½ by the distribution date, may distribute up to $100,000 per year from their IRA into a Designated Fund. The donor may give to more than one charity by establishing numerous Designated Fund accounts at MB Foundation. Funds may be distributed according to the account advisor's own timetable.
- Minimum initial contribution of $1,000
- Funds are invested in our money market strategy or Allocation Models ($50,000 minimum)
- Minimum additional contributions and disbursements are $100 per year
- Quarterly statement is issued to the fund advisor
- Online account management available
Download a product flyer for more information
Grow Your Fund
You can grow your fund either by adding to it at any time, or by investing for growth with one of our Allocation Models (download flyer): Money Market (low risk), Conservative (low risk), Balanced (moderate risk), or Growth (moderate to high risk). Growing the gift allows you to save for a special gift to your designated charity or maintain your giving to the organization during lower income years. Either way, your resources are gathered in anticipation of supporting the ministry to help them meet their goals. To determine which Allocation Model might be right for you, Contact Us or fill out a donor questionnaire.
Open a Designated Fund
Simply give one of our staff a call (800.551.1547), or download an application to establish a Designated Fund(s) at MB Foundation. The process is easy:
- Open your Designated Fund(s) at MB Foundation.
- Contact your IRA custodian.
- Instruct them to make the charitable distribution payable to MB Foundation.
- Provide them the MB Foundation EIN #48-1092804.
- Have them mail the check to MB Foundation, PO Box 220, Hillsboro, KS 67063.
- We will send you a written receipt for the charitable rollover contribution.