Planned Gifts Your gift to WRTI can be designated as an unrestricted or a restricted planned gift. By making a planned gift, you will help ensure that generations to come will have access to classical and jazz public radio in Philadelphia's tri-state area. While you're securing the future of WRTI, you will also be saving on taxes, increasing your income, and passing on more resources to your heirs depending on the type of gift you choose. Gifts can be made through bequests, deferred or planned giving, securities, or cash. A planned gift for WRTI can be an outright gift or a life income gift. In addition, a charitable bequest can be made during your lifetime or at the time of death. Some of the ways to make a planned gift include: Gift of stock or other securities Giving stock to a charitable organization is a wonderful way to expand the amount you can afford to donate. If you have owned the stock for more than a year, you get a tax deduction for the gift, and you avoid paying any capital gains tax on the increase in value of the stock. When you donate property, you can deduct the "fair market value," which is the average of the highest and lowest trading price for the stock on the day you make the transfer. Gift of retirement plan assets Retirement plan assets are an excellent choice to fund a charitable gift to WRTI upon your death. If you leave your traditional IRA, 401k, 403b or other qualified retirement plan assets to anyone other than your spouse, the individual beneficiary will have to pay income tax on the funds received. In some instances, if the estate is subject to estate tax, the combination of income tax and estate tax can amount to over 70% of the decedent's retirement account. By making WRTI the beneficiary of your retirement plan, the full amount of your retirement assets will benefit WRTI. Bequests The easiest and most common method of charitable planned giving is by means of a bequest in your will. A will is the legal expression of your wishes for the disposition of your property to take effect at death. Beneficiaries (the heirs who receive the bequests) are the individuals and organizations especially important to you. Whether for the entire estate, or any portion of the estate, a fixed amount or a percentage of total assets, bequests are easy to make. Steady income for life: the charitable gift annuity With a charitable gift annuity, a sum of money or certain other property is given to WRTI in return for fixed annual payments for you (and your spouse, if you wish). Gift annuities are especially attractive for older people, since payments are larger for those at older ages. If you have property (such as securities or real estate) that has increased in value, consider using it to fund a charitable gift annuity. The capital gains taxes which would be due if the property were sold can be deferred, or partially avoided, provided you have owned the property long enough for it to qualify as long-term property. An income tax deduction is allowed in the year the gift is made. It is based on the age(s) of the person(s) receiving the income, the frequency of payments, and other factors. Charitable trust You can make a gift today and retain annual income for the remainder of your life or another period of time you choose through the use of charitable remainder trusts and other similar gift plans. These plans also yield an income tax deduction in the year the gift is completed. They may be used effectively in planning for retirement, caring for the elderly, or providing funds for educational expenses for children, grandchildren, or other loved ones. Gift of life insurance A gift of life insurance can provide a significant charitable deduction. You could purchase a new policy or donate a policy that you currently own but no longer need. To receive a deduction, designate WRTI as both the owner and beneficiary of the life insurance policy. Consult with your insurance agent for the details. Gift of real estate A residence, vacation home, farm, acreage, or vacant lot may have appreciated in value so much through the years that its sale would mean a sizable capital gains tax. By making a gift of this property instead, you would avoid the capital gains tax, and receive a charitable deduction for the full fair-market value of the property. For more information, please contact Jane Kelly, Director of Development, at jane@wrti.org or call her at 215-204-6996.