Tax-Saving Ways to Help WGBY
Gifts from Your IRA
If you are age 70½ or older, you can make qualified charitable distribution directly from your IRA to WGBY to satisfy required minimum distributions for the year. The benefits of making a gift to WGBY this way include:
- Avoiding taxes on transfers of up to $100,000 from your IRA.
- Excluding the amount donated from your adjusted gross income.
- Making a gift that is not subject to the IRS 50% deduction limits on charitable gifts.
- Not increasing the taxable portion of Social Security benefits.
To make a qualifying charitable distribution from your IRA, it is important that you not withdraw funds prior to making the gift, but instead contact your IRA administrator and have the gift amount distributed directly to WGBY.
Gifts of Stock
Making a gift of stock is an easy and wise way to support WGBY. If you have stock that you’ve held for over a year and it has appreciated in value, donating it to WGBY is a great way for you to show your philanthropic support. If you transfer the stock directly to WGBY, you can take a charitable deduction for the fair market value of the stock on the day that you donate it as well as avoid capital gains tax on the increase in value. (If the stock has lost value, you are better off selling it first then donating the cash, this way you can take a capital loss on the investment)
Your broker can easily transfer the stock for you. Here are some easy steps to guide you in making a gift of stock or securities:
- Contact the WGBY Development office to let us know of your intent. Just let us know who you are, the name of the stock you want to transfer, and the number of shares so we can keep an eye out for the transaction.
- Call your broker with the information below:
Company: Merrill Lynch, 125 High Street, Boston, MA 02110
Contact: Ginny Atwood or Jennifer Breitling
Phone: 617-946-4221 or 800-967-6723
Account Name: WGBH Educational Foundation
For the benefit of: WGBY
Account Number: 818-04232
DCT Number: 5198
For more information on making gifts of stock or through your IRA, please call:
Jodi Fallon Fern
Director of Major and Planned Giving
413-781-2801, ext. 1546
Monica M. Borgatti
Major and Planned Giving Officer
413-781-2801, ext. 1586