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Tax-Wise Options for Investing in Wyoming Public Media
Tax ID# 83-6000331
Download the Security Transfer Form at the bottom of the page
|If your goal is to:||Then you can:||And your benefits are:|
|Make a quick and easy gift.||Simply write a check or give through our secure online website. Your gift can be designated for a specific purpose or for general operation of the station.||An income tax deduction and your gift will go to work immediately. You can make a one-time gift, spread the payments over 12 months, or make a sustaining monthly pledge to be repeated until you change or stop the payments.|
|Avoid capital gains tax on appreciated assets.||Contribute stock or other securities that you have held for more than one year.||A charitable deduction for the current value of the gift and you avoid paying tax on capital gains.|
|Reduce overall taxable income from required distributions from your retirement funds.||Direct your retirement fund administrator to use an IRA Rollover to distribute a gift directly to WPM.||You do not receive the distribution as part of your adjusted gross income (AGI) which allows you to maintain a lower income level.|
|Receive a guaranteed fixed income that is partially tax free.||Establish an income generating charitable gift annuity.||Current and future savings on income taxes, plus stable income.|
|Create a hedge against inflation over the long term||Establish an income generating charitable remainder uni-trust.||Provides immediate tax benefits and pays a variable income for life.|
|Secure a fixed income stream while avoiding market risks||Establish an income generating charitable remainder annuity trust.||Provides immediate tax benefits and may boost your rate of return on low income producing assets.|
|Avoid capital gains tax on the sale of a home or other real estate.||Donate a gift of real estate outright, through a bargain sale or with a retained life estate agreement.||A charitable tax deduction with the possibility of reducing or eliminating capital gains tax. May also retain residency rights for a period of time.|
|Make a large gift with little cost to you.||Contribute a deferred gift of a fully paid-up life insurance policy.||Current and possibly future income tax deductions.|
|Avoid the twofold taxation on employee retirement plans after your lifetime.||Name WPM as the beneficiary of the reminder of your retirement plan.||Reduces your overall taxable estate and allows you to leave family other assets that carry less tax liability.|
|Continue to support WPM after your lifetime.||Establish a deferred gift through a bequest in your Will or Trust.||Your donation will be fully exempt from federal estate taxes.|
Year End Gift Options
Cash is the most common asset used for charitable gifts. It is convenient, provides a direct charitable gift deduction and you can make a cash donation using a debit or credit card in one payment, or spread out as payments out on a month by month basis. You can also become a sustaining member by designating an ongoing, monthly donation that will continue until you notify the station that you wish to change the amount or stop the payments.
Gifts of Stock or Appreciated Assets held for a year or more are a great way to make a significant gift today at a cost savings to you. (For instance, you may have purchased stock for $100 that is now worth $1,000. By gifting that stock, the cost to you for the gift is $100). We will sell the stock upon receipt and your income tax deduction is based on the (current) sales value of the stock. There is no capital gains tax assessed on the stock sale, so you save on taxes twice.
Charitable IRA Rollover Gifts of up to $100,000 are allowed this year if you are at least 70 ½ yrs. You must instruct your IRA administrator to transfer funds directly from your account to WPM before December 31, 2013. The distribution counts towards your minimum required distribution for the year, but does not become part of your annual gross income (AGI) so you lower your annual income and potentially, your tax level. You cannot claim a charitable deduction for the gift. Your financial advisor can provide an analysis to show if this can benefit you and WPM.
Planned and Income Generating Gifts
Charitable Gift Annuity: A charitable gift annuity can be established with a gift of cash, stock or real estate in exchange for fixed annuity payments for the remainder of your life or a set term of years. The annuity rate is based on your age and the payments are guaranteed. You are also entitled to a charitable deduction for the present value of the gift portion of the annuity. This charitable gift tool is a great way to secure fixed retirement income for you and/or your spouse. An annuity can also be used to secure income for a period of years for an heir with special needs or circumstances.
Charitable Remainder Trusts: A charitable remainder trust can be established with a gift of stock, real estate or cash. Low-yielding, appreciated assets are best. The assets are sold and invested in a diversified portfolio. You receive income for life or for a set term of years, and the remaining assets of the trust benefit Wyoming Public Media for the purpose you designate. There are significant income tax advantages that you receive and although the trust is irrevocable, it is also one of the most flexible and effective charitable and retirement planning tools available. Charitable remainder uni-trust payments are based on investment return so may increase (or decrease) to hedge against inflation. Charitable remainder annuity trusts pay a fixed annual amount that is established when the trust is created.
Real Estate Gifts: As with all transactions of real property, a gift of real estate takes careful planning and time, but the result can be a tremendous gift for WPM and can be extremely beneficial for you as well. You may be relieved of the burden of managing or selling the property, and may also be able to structure the gift to provide income for your use prior to the full value of the gift transferring to Wyoming Public Media. With an outright gift of real property, you receive an income tax deduction for the property’s full market value; removal of the property from your estate and the reward of seeing the gift go to work immediately for WPM. You can also leverage the gift to establish a trust or annuity. There are also options for creating a retained life estate gift agreement which would allow you to donate property to WPM and retain the right to use the property for the remainder of your life or for a period of years. You receive an income tax deduction in the year you make the gift. When the term of the agreement is met, WPM benefits from the sale of the property.
There are a variety of ways in which you can continue to support WPM after your lifetime. These gifts can provide flexibility within your planning, may reduce your overall taxable estate value which may be beneficial to your heirs, and allow you to leave a legacy for the future.
Gifts of Life Insurance: You can name Wyoming Public Media as owner and beneficiary of a paid-up insurance policy and receive a charitable deduction for this designation. Upon your death, the value of the policy comes to the station for the purpose you designate. Our Member Stewardship Manager can help facilitate the transfer of ownership and document any wishes you may have related to the future use of this gift.
Gifts of Retirement Assets: Designating WPM as the beneficiary for all or a percentage of your retirement plan (such as an IRA, 401(k) plan, profit sharing plan, Keogh plan and 403(b) plan), can be an effective way of providing a gift, and you or your beneficiary may avoid costly income and estate taxes. Because the income tax on retirement-plan benefits are deferred but not avoided, inheritance of these assets can create a tax burden for family members that can potentially result in the loss of up to 60% or more of the retirement plan benefits. If, however, the plans beneficiary is a non-profit, the full amount of the benefits are paid directly to support your philanthropic goal and your overall estate value is reduced, possibly creating additional tax savings for your heirs.
Gifts through your Will: A gift made through a will or living trust continues your tradition of giving to WPM after your lifetime. Bequest gifts can be created when you establish your Will or can be added to existing legal documents though a simple “codicil” to your Will. The following language is provided as a service to you or your attorney:
I give, devise, and bequeath, to Wyoming Public Media, a division of the Outreach School of the University of Wyoming (or its successor) located in Laramie, Wyoming, a nonprofit corporation organized and existing under the laws of the state of Wyoming $____________ (specific dollar amount) OR ___________ (specific property) OR ______________ (%) OR (all the rest, residue, and remainder of my estate) to be used (at the discretion of the General Manager) OR (for a specific use or pre-arranged endowment agreement).
Ideas for Directed Gifts
WPM Endowment: In 2001, visionary donors established a permanent endowment to support the future of Wyoming Public Media. The annual return on investment can be used for projects that support WPM’s mission of service to Wyoming. A gift to the endowment is a powerful way to impact the future of Wyoming Public Media.
News and Technology Excellence: Wyoming based news reporting, and securing a strong, reliable multi-platform signal statewide are two top priorities in WPM’s service to you, our listeners. A gift to build these invested accounts will support key News Department positions and technology purchases to leverage opportunities that enhance programming excellence.
Day of Dedication and Memorial Gifts: A wonderful way to honor a person or non-profit is to give a gift to WPM in their honor, memory or to sponsor a “Day of Dedication”. Day of Dedication messages will be broadcast 5 to 7 times (depending on the gift amount) during the designated day. We work with you to notify the honoree, or in the case of a memorial gift, the immediate family, for the recognition gift and provide you with a gift receipt for your taxes.
Matching Gifts: Does your employer have a matching gifts program? Just let us know and we will ensure your gift is leveraged through your employer’s generosity.
For more information on how these gift strategies might serve your individual philanthropic goals, please contact WPM’s Member Stewardship Manager. We can provide sample calculations and discuss a combination of strategies to insure we meet your planning goals.0Please note that gifts of real estate must be approved prior to acceptance.
We encourage you to notify our Member Stewardship Manager of any designation for WPM in your estate plans so that we can thank you and document your wishes related to the use the gift.
Sarah Brown Mathews
Wyoming Public Media Member Stewardship Manager
1000 E. University Avenue, Dept. 3984
Laramie, WY 82071
Phone: (307) 766-4256