Photo by: Fernando Jorge , Unsplash

Making Public Media Part of Your Legacy

Responsible journalism, local, national and international news, gold-standard programming, local flavor – KTOO is all that and more.

While most people do not give to charity because of taxes – charitable giving is part of the American way of life and tax benefits can play an important role in when and how much people give. ust like there are many ways to reap the benefits of public media – there are also multiple ways to invest in KTOO to ensure the future of public media in Alaska’s capital city for generations to come.

How to Give

KTOO General Manager Bill Legere talks about how to give to the Foundation.

Popular Terms

Planned giving is not an all or nothing type of arrangement. Here are some popular terms associated with planned giving.

  • Specific amount –a certain amount from an identified asset
  • Percentage – from either a specific asset or an entire estate
  • Residual – a gift of whatever is left after all specific bequests and expenses have been met

Planned Giving Options

Here are a few popular planned giving options:

  • IRA Charitable Rollover
  • Stocks
  • Bonds
  • Life Insurance
  • Specific gift amounts designated in Wills

More About Planned Giving Options

An IRA Charitable Rollover

Planned gift options include the tax-smart option of designating a portion of your Individual Retirement Account to KTOO.  If you’re 70 ½ or older, an IRA Charitable Rollover is a simple way to support KTOO and receive tax benefits in return. You can avoid taxes on transfers up to $100,000 from your IRA to the KTOO Legacy Foundation. You can also satisfy your Required Minimum Distribution (RMD) for the year and reduce your taxable income even if you don’t itemize deductions. And you can make a gift that isn’t subject to the 50% deduction on limits on charitable gifts.

In December 2019 the Secure Act was passed that included a number of changes to the RMD requirements. The new RMD age is 72 for individuals who turned 70 ½ after December 31, 2019.  However, you are still able to make Qualified Charitable Distributions (QCD’s) at the age of 70 ½.

Here is a link to an article that goes into all of the details of the IRA and RMD changes. 

Benefits of an IRA Charitable Rollover Include:

  • Avoid taxes on transfers of up to $100,000 from your IRA to KTOO’s Legacy Foundation;
  • 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 50% deduction limits on charitable gifts;
  • Ensure the future of public media in Alaska’s Capital City.Avoid taxes on transfers of up to $100,000 from your IRA to KTOO’s Legacy Foundation;
  • Satisfy your required minimum distribution (RMD) for the year;
  • Reduce your taxable income, even if you do not itemize deductions;

Gifting Other Retirement Assets

Up to 50% or more of your retirement assets (IRA, 401K, pension and other tax-deferred plan) may be taxed if you leave them to your heirs. Leaving loved ones’ other forms of assets and designating funds to a charity avoids that tax-burden.

It’s important to discuss your personal situation with an accountant or attorney to determine how gifting will impact your personal tax situation.

Stocks, Bonds and Life Insurance

Gifts of Stocks and Bonds can benefit you in the following ways:

• You may avoid paying capital gains tax;
• You may receive a charitable income tax deduction; and
• You may enjoy possible increased income.

If your life insurance is no longer needed or will no longer benefit your survivors, you can designate the KTOO Legacy Foundation as a beneficiary – today or tomorrow.

Donor Intent Form – You Can Be Recognized or Remain Anonymous

The purpose of the intent form is just to let us know you are thinking of including the Foundation in your planned giving. You can see how easy it is to make your wishes known.

Or you can talk to your attorney or tax preparer and remain anonymous. It’s up to you. Either way it’s easy to make planned giving to the KTOO Legacy Foundation a part of your legacy.

Click here to download a copy of the KTOO Legacy Donor Intent Form.

For more information, please contact KTOO General Manager Bill Legere.

I have supported KTOO, FM & TV, for 40 years because of the high quality of its content & relationship to community. My planned giving includes the Legacy Foundation so that future generations can enjoy the same benefits that my family and I have enjoyed for decades.”
– Sioux Douglas

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