2023 Year End Giving

TAX ADVANTAGED WAYS TO GIVE

Giving gifts of cash:

• For 2023, individuals who do not itemize their deductions can reduce their taxable income by up to $300 ($600 for couples) when they make cash gifts to qualified charities.

Give highly appreciated and publicly traded stock or mutual fund shares.

• The entire appreciated value is deductible and you will avoid paying any capital gain tax if the shares are given as an outright gift or used to establish/add to a donor advised fund. If stock is given to fund an income-returning gift, a portion of the capital gain tax will be avoided.
  • To make a gift of stock to TPT, please provide the following to your broker:
    • Firm: UBS Financial Services Inc.
    • Contact: Michael Block, (612) 303-5842 | [email protected]
    • Account number: RP68601 | DTC number: 0221
  • Contact Development 651-229-1410 or [email protected] with your name, type of stock and number of shares to provide documentation for your tax deduction.

Establish a Named Endowment Fund at TPT

• Leave a legacy at TPT. With a gift of $50,000 or more, you may establish a named endowment fund to support your passion for public television in perpetuity, while honoring your personal philanthropy or memorializing someone that played an important role in your life. Your generosity will help ensure that the values of public media are passed on to the next generation of consumers, creators, leaders, and supporters.

Consider income-returning gifts

• If you do not wish to make large outright gift, consider making an income-returning gift such as a charitable gift annuity or a charitable remainder trust. In addition to receiving future income, you will receive a generous charitable deduction in the year your gift is made.

Make Gifts from Donor Advised Funds

• Taxpayers having (or establishing) a donor advised fund may request that the fund administrator distribute a gift directly to TPT. Because the taxpayer received a charitable deduction in the year the assets were transferred, no deduction is received when distributions are made to charities. This option enables donors to continue supporting favorite charities in years when they do not itemize.

Review Overall Estate and Financial plans

• Wills and revocable trusts are the most frequently used methods for making estate gifts to charity, whether a specific amount, item of property or a percentage of the estate residue. Beneficiary Designations are increasingly used because of the simplicity (may be done without changing your will or trust}. By naming TPT as a beneficiary of a retirement plan, will or living trust, or life insurance policy or other account, you may save income or estate taxes and achieve your personal and charitable planning goals.

Additional Information:
Full Legal Name of TPT: Twin Cities Public Television, Inc.
Federal Tax I.D. Number: 41-0769851
Address: 172 E. 4th Street, St. Paul, MN 55101

Disclaimer: We do encourage you to consult your personal tax, financial or legal professional for advice regarding your specific situation.

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