Planning Giving is a creative process incorporating giving strategies within your overall estate plan. A variety of arrangements may allow you to care for your own financial future and that of your family while, at the same time, enjoying the satisfaction of providing significant future financial support for KRCU.
IRA Charitable Rollover
• You must be 70½ or older.
• You can transfer up to $100,000 from your IRA directly to a qualified charity such as ours. This opportunity applies only to IRAs and not other types of retirement plans.
• You pay no income tax on the gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your tax deductions.
• Your gift can satisfy all or part of your required minimum distribution for the year.
• If you made a gift of up to $100,000 directly from your IRA in 2015, your gift will qualify under the new law.
• Transfers will need to be made by Dec. 31, 2015, if you want your gift to qualify this year.
Contact Trudy Lee for more information at (573) 576-8479 or email@example.com.
Charitable Bequests through a will or living trust allow you to leave a legacy for the future and plan for potential estate tax liability. Any size bequest can be made to KRCU, free of estate tax, by including a distribution of cash or specific property, a dollar amount or a percentage of your estate. Bequests can be revoked or amended during life, allowing both flexibility and security.
Life Insurance Gifts can be accomplished in various ways and result in a small investment now that will greatly benefit the station in the future. Transferring ownership of an existing policy no longer needed for its original purpose may result in an income tax deduction, while making KRCU the beneficiary of that policy is a revocable gift and provides estate tax advantages. Buying a new policy with the station as owner and beneficiary provides other tax benefits, including an income tax deduction for the premiums paid.
Retirement Plan Assets in an IRA or other qualified plan (e.g. a 401(k) or 403 (b) plan) can be the most highly taxed assets in an estate – as much as 75%. Simply naming KRCU as a contingent, primary or partial beneficiary will lead to a tremendous charitable gift while conserving other assets for transfer to your heirs.
Retained Life Estate arrangements allow you to gift your home, farm or vacation property immediately while retaining the right to live in or use the property during your lifetime. This gift plan results in various tax benefits and ensures a legacy gift to KRCU.
Charitable Remainder Trusts can help you increase the yield from your current investments yet avoid or defer the capital gains tax upon sale of these investments. There are several types of trusts that can provide income to you and your beneficiaries along with an immediate charitable deduction for part of the asset value. Income from a charitable remainder trust can be fixed, fluctuate with future gains and losses in principal, or equal actual trust yield. The choice depends on your needs and the type of assets used to fund the trust or annuity.
Charitable Lead Trusts is a way to pass property to your heirs and pay less tax. It is the reverse of a charitable remainder trust in that it provides a gift of income from the assets in the trust to KRCU for a term of years, after which time the assets in the trust revert to either your or your heirs. Various tax advantages are available, depending on how the trust is structured, including reduced gift and estate taxes on assets you wish to pass to your children or grandchildren.
KRCU welcomes gifts of all sizes types and arrangements through the Southeast Missouri State University Foundation. You are encouraged to consult with your family and your advisors to determine the charitable gift plan that is right for you.
All gifts and bequests to support KRCU should be designated to Southeast Missouri University Foundation, Federal tax ID number 43-1291797. The Foundation is a 501(c)(3) charitable organization and, as such, all gifts and bequests to the Foundation are tax deductible to the fullest extent of the law.