Planned Giving – The Gift of Your Legacy
Making a legacy gift to KUAC Friends Group (ID# 47-4121401) allows you the opportunity to make a contribution that will allow KUAC to continue to play a vital role in the future of public broadcasting in Alaska.
For more information about making a legacy gift, please call KUAC’s Development Office at (907) 474-1891 or email firstname.lastname@example.org.
The following legacy gift ideas provide a meaningful way to support the mission and programs of KUAC, while offering favorable benefits such as reducing capital gains and estate taxes. This is not an exhaustive list of ways to give and with all information regarding gifting to KUAC Friends Group, this is not intended as tax or legal advice. For advice and assistance in specific cases, the services of an attorney or other professional advisor should be obtained.
- Gift Through Your Will or Trust
- Appreciated Securities
- Retirement Plans
- Life Insurance
- Live Income Gifts
- Gifts of Real Estate
- Memorial & Tribute Gifts
Gifts Through Your Will or Trust
A will is the simplest way to distribute your estate. By creating a will or having your attorney make a simple revision to your will, you can make a gift of a certain dollar amount, a specific percentage of your estate, or what is left after your loved ones have been taken care of. If you have chosen a revocable living trust to pass your property on to loved ones, a charitable gift through your trust may also reduce your estate taxes and can be delayed until all family members are provided for.
Appropriate wording to be used when creating a provision in your will or trust:
For an unrestricted gift:
“I give, devise, and bequeath to the KUAC Friends Group, a tax-exempt organization as described under Subsection 501(c) (3) of the Internal Revenue Code, located in Fairbanks, Alaska, the following described property: ______________, to be used for the benefit of KUAC FM and TV at the University of Alaska Fairbanks.”
For a restricted gift to KUAC FM:
“I give, devise, and bequeath to the KUAC Friends Group, a tax-exempt organization as described under Subsection 501(c) (3) of the Internal Revenue Code, located in Fairbanks, Alaska, the following described property: ______________, to be used for the benefit of KUAC FM at the University of Alaska Fairbanks.”
For a restricted gift to KUAC TV:
“I give, devise, and bequeath to the KUAC Friends Group, a tax-exempt organization as described under Subsection 501(c) (3) of the Internal Revenue Code, located in Fairbanks, Alaska, the following described property: ______________, to be used for the benefit of KUAC TV at the University of Alaska Fairbanks.”
These samples are for simple bequests. In all events, donors are advised to seek the advice of their attorney in drafting wills and bequests.
Donors may enjoy the opportunity to make charitable gifts of securities and other investments that have increased in value to KUAC Friends Group. These gifts, if held for over one year, are exempt from capital gains taxes. A tax deduction may also be taken on the market value at the time of transfer. Gifts of appreciated securities are simple to make and can be completed with or without a stockbroker.
Whether you are participating in a company pension plan or other private plan such as an Individual Retirement Account (IRA), you may find that you have accumulated funds beyond your needs. Such excess funds may be given during life (subject to minimum age requirements for penalty-free withdrawals) or at death. Funds remaining in retirement accounts at death may be subject to very high taxes if left to non-charitable heirs.
Another simple way to make a significant gift is through a life insurance policy by naming KUAC Friends Group to receive all or a portion of the proceeds. A gift of life insurance is an excellent way of supporting KUAC if the policy is no longer needed for its original purpose.
Life Income Gifts
Charitable remainder trusts, charitable lead trusts and charitable gift annuities (the easiest of the three) are ways to make a gift to KUAC Friends Group that allow you to retain income either at a fixed rate or at a flexible rate of return from your property for life or for another period of time that you specify.
An immediate tax deduction is allowed at the time you create your trust or annuity. The deduction amount depends on a number of factors including income beneficiary age.
Gifts of Real Estate
Making a gift of your home or certain other real estate can allow you to avoid capital gains taxes as well as qualify you for a charitable income tax deduction. Or, you can donate your home while retaining the use of the property for as long as you live. Using a life estate arrangement, you can make a gift of your home or farm now but retain the security of knowing you may live there as long as you wish. The satisfaction of giving, as well as a tax deduction, is enjoyed now rather than later. You continue to take care of the property, pay the taxes and even receive any income it generates.
Memorial & Tribute Gifts
You can make a gift to KUAC Friends Group in memory or in honor of a friend or family members and your gift will be acknowledged to the appropriate person(s).