Many members say they wish they could give more to Classical KDFC but they’re on a fixed income and cannot afford to give more than they already are. Planned gifts in particular allow many donors to provide support at a level higher than would otherwise be possible, even while receiving income for life and tax benefits. Classical KDFC can assist you with legal and tax counsel to help you understand how to make planned gifts through wills, trusts, and gift annuities in order to determine which is best for you. In turn, Classical KDFC will be able to use these contributions to build an endowment and ensure that future generations of Northern Californians are able to hear the best performances of the best classical pieces on Classical KDFC.
All Classical KDFC members who document their intent to support the station through a planned gift become members of the Legacy Society. If you have already included Classical KDFC in your estate plans, please let us know by contacting Lori Burrill at 949-439-8582 or [email protected]. We would enjoy the opportunity to thank you and to ensure your intentions are fully understood.
There are as many different ways to support Classical KDFC as there are needs for your support. Various types of planned gifts are possible, ranging from a simple bequest to retirement plan gifts. Some of these gifts may be made during your lifetime or as part of your estate plan. Here is a sampling of the most common ways of making a planned gift:
Bequest Through a Will or Living Trust
The easiest and most common method of charitable gift planning is making a bequest through your estate plan. A bequest is a gift of property or assets to a beneficiary as defined in a will or living trust. Whether you wish to donate your entire estate, a portion of your estate, a fixed dollar amount, or a percentage of your assets, bequests are easy to make.
How to Include Classical KDFC in Your Will or Living Trust. Naming Classical KDFC in your will or living trust can be one of the simplest ways to support the station. When making a gift by will or revocable trust to Classical KDFC, we recommend the following language:
“I hereby give to Classical KDFC, by way of the University of Southern California, a California not-for-profit corporation, with its principal place of business at Los Angeles, California: The sum of $__________________ . The following described property: ______________________________________________________ % of the residue of my estate.”
When you decide to name Classical KDFC in your estate plan, please notify Lori Burrill at 949-439-8582 or [email protected]. You will be provided any additional information and your name will be included the membership list of Classical KDFC’s Legacy Society. Members of the Legacy Society will also receive exclusive donor benefits. All inquiries will be handled in confidence.
KDFC’s federal tax I.D. number is 95-1642394
Charitable Gift Annuities
Gift annuities are probably the most popular planned giving vehicles after bequests. It is a combination of a gift and an investment. A charity accepts a contribution and agrees to pay the donor (annuitant) and/or another recipient a fixed and specified dollar amount each year. The charity pays this amount to the donor from its assets. So, not only would you receive a fixed income for the rest of your life, you can also enjoy a tax deduction if you itemize deductions on tax returns. The remainder value of your charitable gift annuity will benefit Classical KDFC.
The rate of return is based on the age of the donor. Annuity rates are typically higher for older annuitants and lower for younger annuitants, based on life expectancy. Rates are also adjusted according to the number of annuitants, with rates for two-life contracts often lower due to the extended life expectancy. The age of a recipient is the age reached at the nearest birthday, and rates are the same for men and women.
In short, charitable gift annuities are an excellent method of achieving your philanthropic goals and gaining substantial tax benefits. Before you establish a charitable gift annuity, it is best to consult knowledgeable professionals. Classical KDFC can help answer any questions and provide you with a complimentary proposal of gift annuity scenarios, in confidence, and with no obligation. For more information, contact Lori Burrill at 949-439-8582 or [email protected].
