WUWF 88.1 FM has been bringing you outstanding public radio for nearly 40 years. Learn how you can impact the station's future with a gift that reflects a lifetime of appreciation. Include WUWF in your estate plan by naming the station as a beneficiaary in your will, IRA, life insurance, or other instrument. Many charitable arrangements will allow you to support WUWF and, at the same time, provide tax benefits to you and your family.
We encourage you to contact us with any questions. We can discuss your interests, give you more information about the benefits of each option and explain steps necessary to complete your gift. You can reach the WUWF Development Office at (850) 473-7433.
Gifts of Stocks and Bonds
A gift of appreciated securities, including stocks and bonds, is an easy way for you to make a gift to WUWF 88.1FM. Here are some of the potential benefits:
- Avoid paying capitol gains tax
- Receive a charitable income tax deduction
- Enjoy possible increased income
- Further WUWF's Mission today!
When you give appreciated assets, you avoid paying capitol gains tax on the increased value of your stock. You may also be entitled to a charitable deduction based on the stock's current value. When considering gifts of stock, we recommend you consult with your financial advisor.
When providing instructions to your broker, please be sure to have the stock transfer clearly designate the donation to: WUWF 88.1 FM - University of West Florida Foundation, Inc., 11000 University Parkway, Pensacola, FL 32514.
Our tax identification number is 59-6166292. Your broker will need the following information:
DTC# 0725 - Account #26796723, for the benefit of University of West Florida Foundation, Inc. (designated to WUWF Public Radio)
Raymond James, Primary Contact: Mr. John D. Brewer, Assistant: Anna Schoor
Phone: 850 439-2047 or 800 347-7643 Fax: 850 434-0060
NOTE: For proper gift credit, include the donor's name.
A specific bequest is usually a stated dollar amount or a percentage of the estate. It may be in the form of cash, securities, real estate, tangible personal property, or any other type of property. residuary bequests name WUWF as the residual beneficiary to receive the remainder or a percentage of the remainder after specfic legacies have been fulfilled. Contingent bequests take effect only if all primary beneficiaries named in the will die.
Life insurance offers yet another way to make an outright gift to WUWF. A life insurance policy may make a good gift choice when the policy is no longer needed. It may also be a way to make a gift without loss of current income. A gift of life insurance may be flexible. A donor may give a paid up poicy to WUWF or simply name WUWF as the primary or secondary beneficiary. Charitable deductions will vary based on how the policy is gifted.
Individual Retirement Accounts (IRAs), tax sheltered annuities, Keogh plans, self-employed plans (SEPs), 401(k), 403(b) and other qualified pension and profit-sharing plans can also provide significant support for WUWF. A donor should inform his retirement plan administrator that he or she wishes to name WUWF - University of West Florida Foundation, Inc., as a beneficiary of the plan. The funds will usually pass to WUWF outside of probate and free of all taxes.
If you are 70½ years old or older, you can take advantage of a simple way to benefit WUWF and receive tax benefits in return. You can give up to $100,000 from your IRA directly to a qualified charity such as ours without having to pay income taxes on the money.
This law no longer has an expiration date so you are free to make annual gifts to our organization this year and well into the future.
Why Consider This Gift?
Your gift will be put to use today, allowing you to see the difference your donation is making.
You pay no income taxes on the gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your deductions.
If you have not yet taken your required minimum distribution for the year, your IRA charitable rollover gift can satisfy all or part of that requirement.
Frequently Asked Questions
Q. I've already named WUWF as a beneficiary of my IRA. What are the benefits if I make a gift now instead of after my lifetime?
A. By making a gift this year of up to $100,000 from your IRA, you can see your philanthropic dollars at work. You are jump-starting the legacy you would like to leave and giving yourself the joy of watching your philanthropy take shape. Moreover, you can fulfill any outstanding pledge you may have made by transferring that amount from your IRA as long as it is $100,000 or less for the year.
Q. I'm turning age 70½ in a few months. Can I make this gift now?
A. No. The legislation requires you to reach age 70½ by the date you make the gift.
Q. I have several retirement accounts—some are pensions and some are IRAs. Does it matter which retirement account I use?
A. Yes. Direct rollovers to a qualified charity can be made only from an IRA. Under certain circumstances, however, you may be able to roll assets from a pension, profit sharing, 401(k) or 403(b) plan into an IRA and then make the transfer from the IRA directly to WUWF. To determine if a rollover to an IRA is available for your plan, speak with your plan administrator.
Q. Can my gift be used as my required minimum distribution under the law?
A. Yes, absolutely. If you have not yet taken your required minimum distribution, the IRA charitable rollover gift can satisfy all or part of that requirement. Contact your IRA custodian to complete the gift.
Q. When do I need to make my gift?
A. We must receive your gift by Dec. 31 for your donation to qualify this year. If you have check-writing privileges on your IRA account, please mail your check by Dec. 20 in order to give us time to process your gift before the end of the year.
Q. Do I need to give my entire IRA to be eligible for the tax benefits?
A. No. You can give any amount under this provision, as long as it is $100,000 or less this year. If your IRA is valued at more than $100,000, you can transfer a portion of it to fund a charitable gift.
Q. I have two charities I want to support. Can I give $100,000 from my IRA to each?
A. No. Under the law, you can give a maximum of $100,000. For example, you can give each organization $50,000 this year or any other combination that totals $100,000 or less. Any amount of more than $100,000 in one year must be reported as taxable income.
Q. My spouse and I would like to give more than $100,000. How can we do that?
A. If you have a spouse (as defined by the IRS) who is 70½ or older and has an IRA, he or she can also give up to $100,000 from his or her IRA.
It is wise to consult with your tax professionals if you are contemplating a charitable gift under the extended law. Please feel free to contact Trish Allison at (850) 473-7433 or firstname.lastname@example.org with any questions you may have.
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor.