Legacy Giving & Bequests
One of the most satisfying things you will be able to do by taking time to plan your estate is to make decisions to benefit some of the worthy institutions and organizations you have supported during life. In fact many of the most significant gifts that nonprofits receive come from the estates of regular contributors who decide to share a portion of their accumulated assets later on, after taking care of family and friends.
KBBI’s long-term stability is based on solid planning, which will ensure that we are here in the future to serve the Southern Kenai Peninsula. Your thoughtful choice to include KBBI in your estate plans would go a long way toward helping making this future a reality. Your gift can also be in honor or memory of a loved one.
If you choose to remember us in your plans, we welcome you letting us know so we may say “thank you!” Many people join the legacy society so their example can inspire others to make the same commitment. If you prefer, we will keep your bequest intention confidential. We understand fully if you prefer not to share specific amounts or if you have no way of knowing what might be left over for your charitable gifts.
When including a bequest provision in your will always use the organization’s legal name and provide the federal taxpayer identification number.
KBBI’s full legal name: Kachemak Bay Broadcasting Incorporated
KBBI’s federal taxpayer identification number: 92-0060366
KBBI has an endowment fund with the Homer Foundation and all bequests will go to that fund. If you wish to set up your bequest directly to the fund please use the following language: KBBI Public Radio Endowment Fund and the Homer Foundation's EIN is 92-0139183.
Listed below are the most common types of planned gifts:
The most common type of planned gift is a bequest through a will or trust. By creating a will or having your attorney make a simple revision to your will, you can make a gift of a certain dollar amount, a specific percentage of your estate, or what is left after your loved ones have been taken care of. Here are three types of bequests naming KBBI as a 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 Kachemak Bay Broadcasting Incorporated an Alaskan nonprofit, tax-exempt corporation located in Homer, Alaska.
- 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 Kachemak Bay Broadcasting Incorporated, an Alaskan nonprofit, tax-exempt corporation located in Homer, Alaska.
- 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.
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. Gifts of appreciated securities are simple to make and can be completed with or without a stockbroker.
Whether you are participating in a company pension plan or other private plan such as an Individual Retirement Account (IRA), you may find that you have accumulated funds beyond your needs. Such excess funds may be given during life (subject to minimum age requirements for penalty-free withdrawals) or at death. Funds remaining in retirement accounts at death may be subject to very high taxes if left to non-charitable heirs.
The cash value of the gift is tax deductible, as are any future premiums the donor may opt to pay on that policy. Note that only life insurance policies that are paid in full qualify as planned gifts.
Memorial & Tribute Gifts
You may make a gift to KBBI in memory or in honor of a friend or family members and your gift will be acknowledged to the appropriate person(s).
In general, KBBI does not accept gifts of any property.
Disclaimer: The information provided is for educational purposes and KBBI is not an advisor.
Read more for Frequently Asked Questions & Answers.
For More Information:
There are many ways to plan special gifts for KBBI and your other charitable interests – a bequest through your will is just one. Whatever your plans may be, we encourage you to call or write for more information, without obligation. You may reach us at:
KBBI Development Director
3913 Kachemak Way
Homer, AK 99603
development at kbbi.org
907-235-7721 ext. 224