Gifts of $1,000 or more are considered major gifts at WRTI
Major gifts significantly enhance our ability to continue creating one of the most innovative classical and jazz stations in the country. Members who donate at the $1,000 level or above are automatically enrolled in the WRTI Leadership Circle.
There are a variety of ways to support the future of WRTI, such as through bequests, deferred or planned gifts, securities, or cash - your financial advisor can help determine the best way for you to ensure that generations to come will have access to quality, curated classical music and jazz through public media.
Contact General Manager Bill Johnson for more information: email@example.com, or 215-204-9335.
Whether your gift assets are distributed through a community, private or family foundation, or through a Donor Advised Fund, you can become part of the WRTI community of supporters. If you wish for the name of your fund to be recognized on-air, just let us know.
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. Planned gifts can be designated as either “unrestricted” to support annual operating costs or “restricted” to support particular projects. Examples of restricted support include programs like The Philadelphia Orchestra broadcasts or specific elements of WRTI’s operations such as programming, community engagement, or live studio performances.
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 can receive a tax deduction for the gift, the amount being determined by 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. And, you will avoid paying capital gains tax on the increased value of the stock.
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.
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. By naming WRTI as the beneficiary of your retirement plan, the full amount of your retirement assets will benefit WRTI. Also, for those reaching age 70½, gifting the Required Minimum Distribution through a rollover is another way to support WRTI through a retirement asset.
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.
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.
Contact Bill Johnson at 215-204-9335 or firstname.lastname@example.org.