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Tax-Saving Ways to Help WGBY

IRA Charitable Rollover

Here’s a special way to support WGBY if you are age 70 ½ or older.

A popular, tax-smart option for giving is a qualified charitable distribution (QCD) from your Individual Retirement Account (IRA). The law permitting special treatment of qualified charitable distributions (QCDs) from Individual Retirement Accounts (IRAs) was extended by Congress and signed by the President on December 18, 2015. To take advantage of this special opportunity, contact your IRA administrator today.

Here’s how it works:

  • You must be 70 ½ or older and eligible to take your Required Minimum Distribution (RMD).
  • Your total combined charitable IRA rollover contribution cannot exceed $100,000 in any one year. ($200,000 exclusions may apply for tax payers who are married and filing a joint return).
  • Charitable contributions from an IRA must go directly to a qualified public charity. Contributions to donor-advised funds and private foundations do not qualify for tax-free IRA rollover contributions.
  • Distributions can only be made from traditional Individual Retirement Accounts or Roth IRAs. Charitable donations from 403(b) plans, 401(k) plans, pension plans, and other retirement plans are ineligible for the tax-free treatment.
  • Distribution must be made directly from the IRA trustee payable to WGBY.
  • In order to qualify for tax-free treatment, you cannot receive any goods or services in return for your charitable IRA rollover gift.
  • You must receive an acknowledgement from WGBY for a rollover-qualified gift.

Benefits to you:

  • You can use an overlooked asset to make a gift to WGBY.
  • The IRA Charitable Rollover permits you to make a charitable gift directly to charitable organizations such as WGBY from your IRA — which means you can enjoy tax savings while supporting our mission to educate, inspire and entertain.
  • You don’t recognize the distribution as income for federal income tax purposes.
  • The distribution counts towards your Required Minimum Distribution (RMD) for the year.

Make an IRA Gift to WGBY

If you are speaking with your plan administrator and would like to make a qualified IRA gift to WGBY, please share with them that our correct legal name is: WGBY-TV a division of WGBH Educational Foundation, and our Tax Identification number is: 04-2104397.

Please have your plan administrator send checks to our mailing address:
WGBY
44 Hampden St.
Springfield, MA 01103
c/o Daisy Pereira-Tosado

We recommend that you seek advice from your accountant or financial planner prior to making a charitable rollover as personal circumstances can have a significant impact on whether charitable rollovers are advantageous. In order to benefit from a 2017-eligible IRA contribution, please contact your IRA administrator as soon as possible as some administrators may place a deadline on requesting transfers.

Contact Us

For more information about making a Charitable IRA Rollover gift to WGBY, please contact Daisy Pereira-Tosado at 413-781-2801 x1586 or by email at dpereira-tosado@wgby.org.

 

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:

  1. 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.
  2. 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:

Daisy Pereira-Tosado
Director of Development

(413) 781-2801 x1586