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Leave a Legacy

May 16, 2018
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by Tom Buchanan, KXCI Board Member

Want to support KXCI in an even more meaningful way?

When my husband and I give to KXCI, we feel great about doing so. Our one regret is that we wish we could do more. I thought it worth taking a moment to write about how you may be able to more than you imagined possible for KXCI, now and in decades to come.

As a kid growing up in Detroit in the ‘60’s, community radio was a lifeline to a whole new world of music and social, political, and cultural awareness. Today, in Tucson, KXCI continues to keep me in touch with musical favorites while exposing me to great new artists.

Your reasons for giving to KXCI are unique to you. But whatever your reasons, my guess is that you, too, wish you could do more. Here are a few simple ways that may help you do just that.

Gifts of Appreciated Securities

A gift of stocks that have increased in value may provide you with an opportunity to give more than you thought possible and at the same time provide a significant tax advantage.  When you transfer ownership of long-term holdings to KXCI, you may receive a charitable deduction for the shares’ full market value. You may also incur no capital gains tax (subject to applicable IRS rules and regulations).  That said, you should always consult with your own financial advisor before initiating a charitable gift arrangement.

Please be sure to let Amanda Shauger at KXCI know in advance of the name of the stock and the number of shares you plan to give. She’ll do a great job of watching for the transfer and keeping you apprised of all the information you need for a maximum tax deduction. If you are lucky enough to hold some shares that have appreciated and would consider giving them to the best radio station in town, call Amanda at 623.1000 ext. 17 for full details.

Bequests

Whether you have many or few financial resources, you need a will. And remembering KXCI in your will is another easy, painless way to ensure the future of the station you love.

You may name KXCI as the beneficiary of a percentage of your estate, of a set dollar amount, or of a particular asset. Your estate is entitled to an estate tax deduction for the full value of your bequest.

Another possibility is to name KXCI as a contingent beneficiary of assets you have designated for someone you love, should that person no longer be alive at the time of your death.

Beneficiary Designation

Estates are not always transferred through a will. Living trusts, qualified retirement plans, and the proceeds from life insurance policies can be transferred through beneficiary designation. You may name KXCI as a beneficiary of any of these assets or as a contingent beneficiary in the event that the person you named as primary beneficiary is no longer living at the time of your death. So if you have life insurance policy, or an IRA, or even a simple bank account, you might want to look into naming safe as the beneficiary or contingent.

So by all means, give what you can. But as you give, look at ways you can give more to KXCI now and in the distant future. When you think about all your assets, you may be surprised to find you have the capacity to do more than you ever imagined.

The Foundation for Creative Broadcasting dba KXCI is a not-for-profit tax-exempt organization incorporated under the laws of the State of Arizona, located at220 S. 4th Avenue, Tucson, AZ 85701.

For more information, contact Amanda Shauger, 520.623.1000 ext. 17 or email amanda@kxci.org.

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