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Planned Gifts & Bequests
So much has changed in the years since JPR first began. In many ways, public radio has grown up. What was once a struggling -- almost experimental -- operation has become a permanent and positive presence in the lives of so many in our community.
While JPR continues to depend on regular annual membership contributions from supporters, especially new generations of listeners, our future success will also depend on special gifts from long-time friends who want to help JPR flourish.
One of the many ways that friends can choose to express their deep commitment to public radio in Southern Oregon and Northern California is by making a planned gift to the JPR Foundation, a tax-exempt non-profit organization which has been established to support JPR's service to the region. A planned gift is one that takes into account the specific financial goals and tax circumstances of a particular donor. Listed below are a number of the most common types of planned gifts:
Gift By Check
A gift by check may be made outright or pledged over a period of years. If you itemize your tax deductions your gift is most often fully deductible.
Your outright gift of long-term, appreciated securities (stocks, mutual funds, and bonds) is exempt from capital gains taxes and, in most cases, enables you to obtain a charitable income tax deduction equal to the market value of the securities at the time of transfer. Simply contact us and we'll email you simple instructions on how to make the transfer.
The most common type of planned gift is a bequest through a will or trust. Here are three types of bequests naming the JPR Foundation as beneficiary:
- An OUTRIGHT BEQUEST is for a specified asset i.e., a stated amount or percentage of cash, stocks, real estate, or items of personal property. Example: I give, devise and bequeath the sum of $10,000; or 100 shares of the ABC Corporation; or 10% of the total value of my estate to the JPR Foundation, Inc., an Oregon non-profit, tax-exempt corporation located in Ashland, Oregon.
- A RESIDUARY BEQUEST provides for the transfer of all or a portion of an estate that remains after all outright bequest provisions are fulfilled. Example: I give, devise and bequeath the residue; or 25% of the residue of my estate to the JPR Foundation, Inc., an Oregon non-profit, tax-exempt corporation located in Ashland, Oregon.
- A CONTINGENT BEQUEST is made when the original beneficiary named in the will is unable to accept the asset or property. This type of bequest can be all or a portion of an estate. This type of arrangement is advantageous for someone whose main concern is providing for his/her family. For example, a donor can bequeath his/her entire estate to his/her spouse; if the spouse predeceases the donor, the bequest benefits the contingencies.
It is important to include the precise legal name of the JPR Foundation when making a bequest to benefit JPR. The correct name should be:
The JPR Foundation, Inc., an Oregon non-profit, tax-exempt corporation located in Ashland, Oregon.
Gifts of Real Estate
You can make a gift of commercial or residential real estate to The JPR Foundation and receive substantial financial benefits. If you wish to give the property outright, you qualify for a charitable income tax deduction based on the appraised value of the property. If you are contemplating leaving your home to the JPR Foundation through your will, you may want to consider giving it now but retaining the right to live in it for your lifetime. You will continue to pay taxes, insurance, and maintenance costs. However, by giving now, you receive a substantial charitable income tax deduction in the year the gift is made.
Gifts Outside a Will or Trust
There are several ways of making meaningful charitable gifts without re-drafting your will. Here are a few:
- Life Insurance - You can name the JPR Foundation, Inc. as the beneficiary of your life insurance policy, or even transfer actual ownership of the policy to the Foundation. Simply contact your insurance company to find out how.
- Financial Accounts - Most accounts at financial institutions can be made payable on death to a charitable organization. Ask the manager of your financial institution how you can arrange to designate the JPR Foundation, Inc. as the death beneficiary of your CD, savings account, or brokerage account.
- IRAs and Pensions - You can make the JPR Foundation, Inc. the death beneficiary of your individual retirement account, pension, 401(k) or other retirement savings plan. Ask the company managing your retirement account how.
- Living Trusts - If you have established a Living Trust, you can name the JPR Foundation, Inc. as one of the beneficiaries of your trust at death. Contact your attorney to find out how.
Life Income Gifts
A life income gift is a type of planned gift that allows you to make a contribution to the JPR Foundation and receive an income in return. Depending on the plan, the income may be fixed or variable and can go on for a lifetime, a term of years, or a combination of the two. These gifts are irrevocable once the contribution has been made. Types of life income gifts include Charitable Remainder Trusts and Charitable Remainder Unitrusts, each of which can provide benefits that include: an immediate tax deduction, avoidance or deferral of capital gains, regular income payments and reduced probate expenses. Please consult your tax advisor about making a lifetime income gift to support JPR.
Making a planned gift to the JPR Foundation is a meaningful way to make a lasting contribution that will benefit future generations of public radio listeners. To learn more call us at 541.552.6301 or send an email to: firstname.lastname@example.org.