Giving back is an important value of Thrivent, as well as many of you. You can give back to causes you care about from your Thrivent Funds account in three ways:
1. Donate shares of your Thrivent Funds to a charity of your choice.
You can gift a portion or all of your non-retirement account shares to a charity of your choice through a transfer of ownership (see the next section for retirement accounts). Not only will this help support a cause you care about, it may also provide you with potential tax benefits. That’s because you may be able to include the value of the shares you donate as a charitable deduction.*
To donate this way, you would need to complete the Change of Registration form (MF23432) with all account owners’ signatures. For interval funds, you’ll also need to include the Repurchase Offer Request form (MF29974). If the charity you select does not have a Thrivent account, the charity will also need to complete a Business Entity Information form (MF23438) and the Transfer of Ownership Suitability form (26872). The charity may complete these forms on its own or, if you have a Thrivent financial professional, you may connect them with your financial professional.
2. Direct your Required Minimum Distributions (RMDs) on retirement accounts to a charity of your choice.
In retirement, when you need to make required minimum distributions (RMDs) from your retirement account, you may choose to donate these distributions directly to charity. An RMD is the minimum amount of money you must withdraw each year from a tax-deferred retirement plan after you reach age 72 (or 70.5 if you were born before July 1, 1949). But anyone age 70.5 or over can elect a Qualified Charitable Distribution (QCD), although the QCD will count towards an RMD. Generally, you would be required to pay ordinary income taxes on those withdrawals. However, you may distribute up to $100,000 per year (even if that is more than your RMD) from an IRA directly to a charity and, by doing so, the amount does not need to be recognized as income for federal tax purposes.
To donate an RMD, you would need to complete the Qualified Charitable Distribution Request form (MF29998) for mutual funds. For interval funds, you would need to also include the Repurchase Offer Request form (MF29974).
3. Donate fund shares as part of your estate plan.
As you think about your legacy and prepare an estate plan, it is possible to assign a charity as a beneficiary on your fund shares and potentially reduce taxes on your estate.* This will direct your assets to a cause you care about upon your death and allow you to make a lasting impact. To assign a charity as the beneficiary, you would need to complete a Beneficiary Designation Request form (MF307).