WCAI Planned Giving
Help ensure that WCAI will remain a significant source of information, education, and entertainment resource for generations to come.
Types of giving include:
Real estate and personal property
Personal residence or other real property, life insurance, retirement plans, or other tangible personal property may be considered for outright gifts. Each qualifies for an income tax deduction, but each has special rules for placing a value on the gift. If you are interested in making a gift using an asset of this type, please contact WCAI first to determine if we can accept it.
Bequests to WCAI can be earmarked for a specific purpose or given without restriction, and can be made for a specific dollar amount or a specific asset, such as a painting or real estate. Another option is to leave a bequest of the residue of your estate or a percentage of the residue of your estate.
To make sure your wishes are followed, consult with an attorney knowledgeable in estate planning to determine that your will is written properly. If your will already is in place, it is possible to add a codicil—an amendment to your will that includes a charitable bequest.
WCAI is part of the WGBH Educational Foundation and is a 501(c)(3) tax-exempt, charitable organization headquartered at One Guest Street, Boston, MA 02135. Our federal tax identification number is 04-2104397. Your attorney may want to include this number in your will or trust to help your executor facilitate your bequest.
We recommend that you consult with your attorney regarding any bequest, trust provision or retirement plan designation. We are available to work with your professional advisors. WCAI does not provide legal or tax advice.
The most direct and simple way to make a gift of life insurance is to name WCAI as owner and beneficiary of an existing policy. If there are premiums to be paid, the donor will receive a current income tax deduction approximately equal to the cash surrender value of the policy. Any future premium payments paid by the donor may be deductible as a charitable gift. If the policy is paid up, the charitable income tax deduction is equal to the replacement value of the policy, subject to tax basis limitations.
Retirement Plan Assets
Assets held in qualified retirement plans and IRA accounts can be attractive assets to contribute to WCAI. When left to friends and family members other than a spouse, these gifts can be subject to as much as 70% in taxes, including estate tax and federal and state income taxes. If a nonprofit such as WCAI is named as the beneficiary of all or a percentage of your plan, you avoid substantial estate and income taxes that would come due on the unused portion. Your other less heavily taxed assets are then available to pass on to loved ones.
Let WCAI Know
We hope you will tell us when you have named WCAI, The Cape and Islands NPR Station in your will. We would very much like the opportunity to thank you for your generosity. Please contact Sarah Tribuzio, at firstname.lastname@example.org or 508-548-9600 ext. 1712.