Making a tax-free gift directly to WGTE from your Individual Retirement Account (IRA) can be a smart way to enjoy tax savings and support the mission of WGTE Public Media.
Here’s how it works:
- Who? You must be 72 or older to make a qualified charitable distribution to WGTE.
- What? You can only make the gift from a Traditional or Roth IRA.
- How? Instruct your plan administrator to send a check for a specific dollar amount directly to WGTE. Email Lindsay Miller for a sample letter of instruction or access the executable letter template by clicking here.
- When? Act now! Tell your administrator that you would like the transfer completed by December 31 to receive the maximum tax benefits for the current tax year.
Benefits You May Receive:
- Required Minimum Distribution (RMD). Qualified charitable distributions can count toward your required minimum distributions.
- Tax Savings. Taxpayers can exclude up to $100,000 per year from gross income with a qualified charitable distribution - married couples filing jointly may be able to exclude up to $200,000 per year.
Tip: This tax savings is especially valuable to donors who are non-itemizers and donors who have reached their limit on itemized charitable deductions.
- Impact. You will have the personal satisfaction of knowing your support will make it possible for WGTE to continue delivering the highest quality programs and educational services to our community.
Here is the information you will need to share with your financial advisor:
- Legal Name: The Public Broadcasting Foundation of Northwest Ohio
- Tax ID: 34-6554586
- Contact Person: Sue Kaake, Acting Chief Financial Officer
- Phone Number: 419-380-4680
- Address: WGTE Public Media 1270 S. Detroit Ave. Toledo, OH 43614
- To make sure we can acknowledge your gift and provide appropriate documentation, please have your advisor include your name on your IRA payment.
An IRA Rollover Gift (also known as an IRA Qualified Charitable Distribution) is a simple way to give and save. Please contact your financial advisor today!
Need help getting started? Contact Lindsay Miller, Director of Development, or call 419-380-4684.
Disclaimer: WGTE Public Media and The Public Broadcasting Foundation of Northwest Ohio do not provide legal, financial, or tax advice, and information provided is for educational purposes only. Please contact your personal independent professional legal or tax advisor to determine how your circumstances may be affected.