Planned Giving

Although outright gifts provide crucial resources for current programs, deferred gifts build the foundation for the future. Giving through estate plans or life income gifts is particularly suitable for those who would like to support WVTF Public Radio with a significant gift that may not be possible to make outright.

Charitable Gift Annuity

A charitable gift annuity is a contract between you and the WVTF Public Radio that provides you and/or other designees an income stream for life. Payments are backed by the Foundation's assets.

The income stream can begin as soon as the gift is completed. However, if you don't currently need the income, or if you want a larger income tax deduction, you may elect to defer the income until a future date. At the end of the designated lifetimes, the remainder will be used by the station according to your wishes.

Because the payments are fixed, charitable gift annuities are appropriate for donors who want to make a significant gift to WVTF Public Radio but are concerned with maintaining a life income stream that they can count on. They can be funded with gifts beginning at $25,000.

Bequests by Will or Living Trust

The most common form of deferred or planned gift to support WVTF Public Radio is a charitable bequest. A will or living trust is a very personal matter and should be prepared with an attorney. The following language is an example of how a bequest may be worded:

“I give, devise and bequeath to WVTF Public Radio, a non-profit corporation in Roanoke, Virginia ____ percent of my estate (or $____ or other personal or real property appropriately described) to be used for (specified use or unrestricted).”

Life Income Gifts

Numerous tax and financial benefits may be realized with a “life income gift,” such as a charitable gift annuity or charitable remainder trust. The donor makes an irrevocable gift of cash, securities, or property and receives income for him or herself (may include another beneficiary, such as a spouse) for either life or a specified term of (1 to 20) years. When the specified period ends, the remainder goes to support WVTF Public Radio.

Charitable Lead Trusts

This type of charitable trust pays the charity a fixed amount or percentage of an asset for a term of years. Thereafter, the assets are passed on to loved ones, and applicable estate, gift, and generation skipping taxes on the trust assets may be significantly reduced.

Gifts of Life Insurance

You may want to consider naming WVTF Public Radio as beneficiary of a life insurance policy. If WVTF is named both the sole owner and the beneficiary, the contributor is eligible to receive an immediate charitable deduction for the policy’s fair market value or the net premiums paid, whichever is less. Additional premiums paid may also be tax deductible.

Retirement Plan Gifts

Designation of WVTF Public Radio as primary or contingent (after a spouse) beneficiary of a private pension fund (e.g. IRA, SEP, 401(k), profit sharing plan) can result in the most “taxwise” estate gift possible. This is because retirement accounts are subject to taxes that other estate assets may avoid. Simply designate WVTF Public Radio as beneficiary on your plan’s “Beneficiary Designation” form.

Retained Life Estate

You may generate a current income tax deduction by giving a home or farm to WVTF Public Radio while retaining the right to occupy, rent, or otherwise use the property during your lifetime. The property will also be removed from your taxable estate.

• Staff