If you are 70½ or older, you can make a tax-free gift directly to KPFK from your Individual Retirement Account (IRA) now and for years to come. It’s a smart way to enjoy tax savings and support the mission of public media for Pacifica Foundations KPFK. The IRA Charitable Rollover was first enacted as part of the Pension Protection Act of 2006 and permanently extended in the Protecting Americans from Tax Hikes Act of 2015. Now, you can make a charitable gift directly from your IRA every year while excluding the amount of that gift from your adjusted gross income (AGI).
To avoid exposure to capital gain tax, the stock must be transferred to KPFK. We then sell the stock from our account.
Once the transfer is complete, KPFK sells the stock and puts the proceeds to use supporting the programs and services you value and gives you the benefits of membership.
We encourage you to talk to your tax or financial advisor to better understand the implications of such a gift on your individual tax situation.
Here's how it works:
- You are 70 ½ or older
- Your gifts total a maximum of $100,000 (A qualifying spouse may also make a gift up to $100,000)
- You complete the gifts on or before December 31st to receive the maximum benefits for the current tax year. You transfer funds directly from an IRA to KPFK
Advantages to you:
- You can use an often-overlooked asset to make a gift to KPFK.
- The IRA Charitable Rollover permits you to make donations directly to charitable organizations such as KPFK from your IRA without counting the distribution as part of your AGI and, consequently, without paying taxes on it.
- You don’t recognize the distribution as income for federal income tax purposes.
The distribution counts towards your minimum required distribution for the year.
Impact: You will have the personal satisfaction of benefiting our community by supporting KPFK's operations and programs that offer an alternative to the media landscape overshadowed by special interests.
Please consult with your financial adviser about this unique opportunity. For more information, visit the IRS website for more details.
Other Ways To Support
KPFK is a progressive media outlet challenging corporate media perspectives and providing a voice to voiceless communities. Help keep KPFK a strong and independent source of music, arts, news and information.
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