Many ways to make a year-end gift to HPPR

Nov 19, 2017

Here are four ready ways you can make a vital contribution to High Plains Public Radio by year’s end.  You’ll reap the tax benefits for 2017 and HPPR will have your added support to continue providing you and the region with public radio service in 2018 and beyond.

  1. Cash - by check or credit card
  2. Appreciated securities - stocks, mutual funds, bonds and other public traded financial investments
  3. IRA Charitable Rollover – if you’re 70½ or older or have inherited an IRA from someone who would be
  4. Vehicle Donation – let someone else deal with an unneeded vehicle while helping to drive HPPR forward into 2018

Cash

Cash is always easy and always appreciated.  Just click here to safely and securely make a contribution by credit card (and maybe get your card points along with a tax deduction).  Or mail a check by December 31, 2017 to either:

  • HPPR Garden City Studios, 210 North 7th Street, Garden City, KS 67846
  • HPPR Amarillo Studios, 104 SW 6th Ave, Suite B-4, Amarillo, TX 79101

Appreciated securities

Transferring appreciated stocks, bonds, mutual funds or other securities to High Plains Public Radio is a particularly good way to make a charitable gift that can benefit you in two ways. When you donate such publicly traded investments that have been held for more than a year you may avoid capital gains taxes. Plus, you may take the full fair market value of the gift on the date it is transferred as a charitable deduction, rather than the lower amount you originally paid for it.

The easiest way to make this kind of gift to High Plains Public Radio is to have your broker electronically transfer the security from your account to ours.  Here is the HPPR account information your broker will need to make the transfer:

  • Account with: Edward Jones, 409 N. Campus Drive, Garden City, KS 67846
  • Account name: Kanza Society Inc. (the non-profit corporation of HPPR)
  • Federal Tax ID#: 43-0345811
  • Account #: 669-19494-1-3
  • DTC#: 0057

For any additional information or assistance needed to make a transfer, please contact either:

Besides helping with the transfer, they will make sure you receive a receipt for your contribution for your tax return preparation since the electronic transfers of stocks and mutual funds are not made in the name of the owner (you) but in the name of the financial firm.

Depreciated securities are another option for making a charitable gift to benefit High Plains Public Radio. By first selling them and then donating the cash proceeds to HPPR you may be able to take a charitable deduction for their sold value and take the capital loss on the asset.

Note: Please consult your accountant, financial advisor or broker to determine the particular federal and state tax benefits that apply in your case when donating either appreciated or depreciated securities to HPPR. 

IRA Charitable Rollover

If you are 70½ years old or older, you can take advantage of a simple way to benefit High Plains Public Radio and receive tax benefits in return. You can give up to $100,000 from your IRA directly to a qualified charity such as HPPR without having to pay income taxes on the money.  The law permitting this no longer has an expiration date so you are free to make such annual gifts to HPPR this year and well into the future.

Why make a contribution through your IRA?

Making a year-end contribution to HPPR from an IRA provides several benefits to you and HPPR:

  • You pay no income taxes on the distribution from your IRA because the amount of the contribution is excluded from your adjusted gross income. 
  • Because the gift generates neither taxable income nor a tax deduction, you can benefit even if you do not itemize your deductions.
  • If you have not yet taken your required minimum distribution (RMD) for the year, your IRA charitable rollover gift can satisfy all or part of that requirement.
  • IRAs are an often-overlooked asset to make a gift to HPPR beyond your other sources of income.  And HPPR can put your contribution to immediate use in continuing to provide and improve its public radio service to you, your community and the High Plains region.

We recommend that you seek advice from your accountant or financial advisor prior to making a charitable rollover as personal circumstances can have an impact on whether charitable rollovers are advantageous for you. Also, in order to benefit from a 2017-eligible IRA contribution, you’ll want to contact them before the very end of the year as there may be earlier deadlines for making transfers.

If you would like to speak to someone at HPPR about making such a contribution, please contact either:

Frequently Asked Questions about IRA Charitable Rollover gifts

Q. I'm turning age 70½ in a few months. Can I make this gift now?

A. You’ll need to wait until your turn 70½.  The legislation requires you to reach age 70½ by the date you make the gift.

Q. Can my gift be used as my required minimum distribution under the law?

A. Yes, absolutely. If you have not yet taken your required minimum distribution, the IRA charitable rollover gift can satisfy all or part of that requirement.

Q. Do I need to give my entire IRA to be eligible for the tax benefits?

A. No. You can give any amount, as long as it is $100,000 or less this year.

Q. I have inherited an IRA.  Can I use it to make a contribution?

A. Yes, if the person you inherited it from would be 70½ or older the same provisions apply.

Q. I have several retirement accounts—some are pensions and some are IRAs. Does it matter which retirement account I use?

A. Yes. Direct rollovers to a qualified charity can be made only from an IRA. Under certain circumstances, however, you may be able to roll assets from a pension, profit sharing, 401(k) or 403(b) plan into an IRA and then make the transfer from the IRA directly to High Plains Public Radio. To determine if a rollover to an IRA is available for your plan, speak with your plan administrator.

Q. My spouse would also like to make an IRA contribution.  Can we both contribute from our IRAs?

A. If your spouse (as defined by the IRS) is 70½ or older and has an IRA, he or she can also give up to $100,000 from his or her IRA.

Q. I've already named High Plains Public Radio as the beneficiary of my IRA. What are the benefits if I make a gift now instead of after my lifetime?

A. By making a gift this year of up to $100,000 from your IRA, you can see your philanthropic dollars at work. You are jump-starting the legacy you would like to leave and giving yourself the joy of watching your philanthropy take shape. Moreover, you can fulfill any outstanding pledge you may have made by transferring that amount from your IRA as long as it is $100,000 or less for the year.

Q. Are there other restrictions and provisions I should be aware of?

A. Charitable contributions from an IRA must go directly to a public charity that is not a supporting organization (e.g. HPPR). Contributions to donor-advised funds and private foundations, except in narrow circumstances, do not qualify for tax-free IRA rollover contributions.

A. You cannot receive any goods or services in return for your charitable IRA rollover contribution in order to qualify for tax-free treatment.

A. You must receive an acknowledgement from HPPR or other charity for each rollover contribution.  HPPR will provide such an acknowledgement to you.

Vehicle donation

Winter’s upon us and you may have a vehicle - whether a car, truck, motorcycles ATV, boat, trailer or RV  -that’s not going to make it through the season or you don’t want to keep around for another year.  Save yourself the hassle of repairing, trading, selling or wondering just what to do with it by donating it to HPPR.  And do it now to get a possible tax deduction in 2017.

All you need to do is give us the keys and the title and we'll take care of all the rest.  And we invest the money we receive from selling the vehicle right back into the programing you hear on HPPR.  Click here to start the easy process.

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Note: The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results.