Examples of planned giving options are below. WCMU Public Media does not provide any legal or tax advice. All ideas presented should be discussed with your accountant, attorney, or other independent professional advisor. There may be other charitable giving opportunities and techniques available to you, other than what’s listed. Additionally, there may be possible tax benefits to some, or all ideas listed below. Another reason we encourage everyone to consult with their planning professionals.
Bequests
You may be looking for a way to make a significant gift to help further our mission. A bequest is a gift made through your will or trust. It is one of the most popular and flexible ways that you can support our cause.
Click here to download our letter of intent with instructions on how to mail in, or you can contact us with help filling it out. We know bequests can change, but having this on file helps us know your future intentions.
IRA Charitable Rollover
You may be looking for a way to make a big difference to help further our mission. If you are 70½ or older, you may also be interested in a way to lower the income and taxes from your IRA withdrawals. An IRA charitable rollover is a way you can help continue our work and benefit this year.
Benefits of an IRA charitable rollover
- Avoid taxes on transfers of up to $108,000 from your IRA to our organization
- May satisfy your required minimum distribution (RMD) for the year
- Reduce your taxable income, even if you do not itemize deductions
- Make a gift that is not subject to the deduction limits on charitable gifts
- Help further the work and mission of our organization
How an IRA charitable rollover gift works
- Contact your IRA plan administrator to make a gift from your IRA to us
- Your IRA funds will be directly transferred to our organization to help continue our important work
- Please note that IRA charitable rollover gifts do not qualify for a charitable deduction
- Please contact Morgan Hales at curti1mm@cmich.edu or call at 989-506-7133 if you wish for your gift to be used for a specific purpose
Gifts from your IRA
If you are 70½ or older, you can use your IRA to fulfill your charitable goals. You can use the "Make a Gift From My IRA" tool to contact your IRA custodian and make a qualified charitable distribution. We will acknowledge your generous gifts as a qualified charitable distribution, which may satisfy your RMD, if applicable.
If you're at least 59½ years old, you can take a distribution and then make a gift from your IRA without penalty. If you itemize your deductions, you can take a charitable deduction for the amount of your gift.
No matter your age, you can designate WCMU Public Media as the beneficiary of all or a percentage of your IRA and it will pass to us tax-free after your lifetime. It's simple, just requiring that you contact your IRA administrator for a change-of-beneficiary form or download a form from your provider's website.
Please let us know of your IRA gift as many popular retirement plan administrators assume no obligation to notify a charity of your designation or monitor whether your gift designations are followed. Our goals are to ensure your gift designations are followed and to thank you for your generosity to WCMU Public Media.
Contact us
If you have any questions about an IRA charitable rollover gift, please contact Morgan Hales at curti1mm@cmich.edu or 989‐774‐1540. We would be happy to assist you and answer any questions you might have.
Beneficiary Designation Gifts
Donating part or all of your unused retirement assets, such as your IRA, 401(k), 403(b), pension, or other tax-deferred plan, is an excellent way to make a gift to WCMU Public Media.
If you are like most people, you probably will not use all of your retirement assets during your lifetime. You can make a gift of your unused retirement assets to help further our mission.
Benefits of gifts of retirement assets
- Simplify your planning
- Support the causes that you care about
- Continue to use your account as long as you need to
- Heirs can instead receive tax-advantaged assets from the estate
- Receive potential estate tax savings from an estate tax deduction
How to make a gift of retirement assets
To leave your retirement assets to WCMU Public Media, you will need to complete a beneficiary designation form provided by your retirement plan custodian. If you designate WCMU Public Media as beneficiary, we will benefit from the full value of your gift because your retirement assets will not be taxed at your death. Your estate will benefit from an estate tax charitable deduction for the gift.
Future gifts from your retirement assets
Did you know that 40%-60% of your retirement assets may be taxed if you leave them to your heirs at your death? Another option is to leave your heirs assets that receive a step up in basis, such as real estate and stock, and give the retirement assets to WCMU Public Media. As a charity, we are not taxed upon receiving an IRA or other retirement plan assets. You can use the "Make a Future Gift of Retirement Assets" tool to contact your retirement plan custodian and designate a future gift to WCMU Public Media.
Contact us
If you have any questions about gifts of retirement assets, please contact Morgan Hales at curti1mm@cmich.edu or 989‐774‐1540. We would be happy to assist you and answer any questions you might have.
Charitable Gift Annuity
You may be tired of living at the mercy of the fluctuating stock and real estate markets. A charitable gift annuity is a gift made to our organization that can provide you with a secure source of fixed payments for life.
Benefits of a charitable gift annuity
- Receive fixed payments to you or another annuitant you designate for life
- Receive a charitable income tax deduction for the charitable gift portion of the annuity
- Benefit from payments that may be partially tax-free
- Further the charitable work of WCMU Public Media with your gift
How a charitable gift annuity works
A charitable gift annuity is a contract between you and WCMU Public Media.
- You transfer cash or property to WCMU Public Media.
- In exchange, we sign an annuity contract and promise to pay fixed payments to you for life. The payment can be quite high depending on your age, and a portion of each payment may even be tax-free.
- You will receive a charitable income tax deduction for the gift portion of the annuity.
- You also receive satisfaction, knowing that you will be helping further our mission.
If you decide to fund your gift annuity with cash, a significant portion of the annuity payment will be tax-free. You may also make a gift of appreciated securities to fund a gift annuity and avoid a portion of the capital gains tax. Please contact us to inquire about other assets that you might be able to use to fund a charitable gift annuity.
Contact us
If you have any questions about charitable gift annuities, please contact us. We would be happy to assist you and answer your questions.
Additional Information
Current charitable gift annuity (payments begin within one year). With a current gift annuity, you may transfer cash or property in exchange for our promise to pay you fixed payments beginning as early as this year. You will receive an income tax charitable deduction this year for the value of your gift to WCMU Public Media.
Deferred charitable gift annuity (for payments at future date). Perhaps you are not ready to begin receiving payments until a future date, such as when you retire. With a deferred gift annuity, you establish the gift annuity today, receive a charitable income tax deduction this year, but defer the payments until a designated date sometime in the future. Best of all, because you deferred the payments, your annual payment will be higher when the payments start than they would have been with a current gift annuity.
Flexible deferred charitable gift annuity (gives you flexibility as to when the payments will start). With a flexible deferred gift annuity, you retain the flexibility to decide when the annuity will begin making payments. As with a deferred gift annuity, you establish the annuity today and receive a charitable deduction this year, but the payments are deferred until such time as you elect to begin receiving the payments.