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1 TABLE OF CONTENTS 3……………………..Guide to Giving: Investing in the Future 4……………………..ESTATE GIFTS: Will Revocable Living Trust Life Insurance 5……………………..ESTATE GIFTS: Retained Life Estate LIFE INCOME GIFTS: Charitable Remainder Trust 6……………………..LIFE INCOME GIFTS: Charitable Lead Trust Gift Annuity 7……………………..ASSET GIFTS: Retirement Plans Stock, Bonds, Securities 8……………………..OUR DONORS: PROVIDING FOR OUR FUTURE Contact information 2 ETV ENDOWMENT OF SOUTH CAROLINA Gift Planning Guide GUIDE TO GIVING: INVESTING IN THE FUTURE Planned giving is key to the mission of the ETV Endowment of South Carolina, Inc., which is to sustain the work of ETV and ETV Radio. An investment in ETV and ETV Radio ensures that the values of South Carolina’s public broadcasting network survive far into the future. Presenting an outstanding opportunity to fulfill your personal charitable goals, planned giving doesn’t require a lot of time or money—it’s something anyone can do, and your gift becomes a personal legacy. We are dedicated to providing excellence in programming and educational services for generations to come. This Gift Planning Guide presents options on how you can join us in this important endeavor. The giving options included in this guide are intended only to provide you with a brief overview of ways to give. We recommend that you consult your attorney or financial advisor as you explore the options for planning your personal legacy. 3 ESTATE GIFTS Will A will is the simplest way to distribute your estate and can be used as a creative vehicle to provide for the needs of loved ones and make thoughtful gifts to those charities you care about most. You can make a gift to the ETV Endowment through your will or via a codicil to your will. This is a bequest. You can bequeath a specific sum or a percentage of your estate. A bequest enables you to make a lasting gift to ETV while retaining full control of your assets throughout your life and can reduce estate taxes. Suggested sample bequest language: I give the ETV Endowment of South Carolina, Inc., a 501(c)(3) nonprofit organization, [________% of my estate] [the sum of $_______]. The ETV Endowment of South Carolina, Inc. is located at 401 E. Kennedy Street, Suite B-1, Spartanburg, SC 29302. The federal tax identification number is 57-0657549. *See page 8 for instructions on how to receive specific sample bequest language forms or a sample codicil form. Revocable Living Trust A revocable living trust allows you to pass your property on to loved ones while minimizing probate costs. Similar to a charitable bequest through a will, such a gift is deductible from estate taxes and can be delayed until provisions have been made for all family members. Life Insurance A simple way to make a significant gift in the future is to name a charitable organization as beneficiary to receive all or a portion of the proceeds of a life insurance policy. Not all life insurance coverage may be needed for the reason it was initially purchased and could be used as a convenient way to fund meaningful charitable gifts. Another way to make a gift of insurance is to purchase a new policy, naming a favorite organization as beneficiary. One of the benefits of this gift option is that if the policy is designated with an irrevocable charitable beneficiary, the premiums are tax deductible. 4 Retained Life Estate When you make a gift of your home or certain other real estate now, you can receive a current tax deduction while retaining the security of knowing that you can live there as long as you wish and having the satisfaction of making a significant gift to ETV. You continue to care for the property, pay the taxes and even receive any income it generates while living there. Upon your death (or that of a loved one), the property goes to the ETV Endowment without passing through your probated estate, thereby saving unnecessary expense and delay. LIFE INCOME GIFTS Charitable Remainder Trust (CRT) A charitable remainder trust is a way to make a gift that allows you to retain income from your property for life or for a period of time that you specify. Your funds are held separately and invested for payment of a fixed or variable income to you and/or someone else you name. Such payments can be a welcome supplement to your retirement plan. When the trust ends at the death of the income recipient or at the end of the specified period of time, whatever remains in the trust is distributed for the charitable purposes you specify. A tax deduction is allowed at the time the trust is created. The size of the deduction depends on beneficiary age(s), payment percentage and other factors. 5 Charitable Lead Trust (CLT) A charitable lead trust provides a substantial gift over a period of years while ensuring that the property will ultimately return to the donor or to loved ones. The lead trust is one of the few ways to reduce or eliminate taxes that otherwise would be due on assets left to children or grandchildren. Under the terms of a CLT, assets are transferred to a trust that pays income to one or more charitable recipients for a number of years you determine. At the end of that period, the assets remaining are returned to you or other persons you name. Gift Annuity A charitable gift annuity is a contract between you and the ETV Endowment whereby you transfer cash or securities to the Endowment and, in exchange, the Endowment agrees to pay you (and/or another beneficiary) a guaranteed fixed income for life. You receive a current income tax deduction in the year of your gift as well as potential future income tax savings. You realize income and tax benefits today for a gift that you might otherwise have planned to make in the future through your will or other long-range plans. 6 ASSET GIFTS Retirement Plans Whether you are participating in a company pension plan or other private plan, such as an IRA (Individual Retirement Account), you may have accumulated funds beyond your needs for the comfortable support of yourself and loved ones. Such excess funds may be given during your lifetime (subject to minimum age requirements for penalty-free withdrawals) or at death. Either way, a gift from such accounts can help perpetuate the work of ETV that you consider so vital for the well being of future generations. It can be satisfying to know that the funds you carefully save over a lifetime may ultimately be put to good use now or as a part of prudent estate planning. In many retirement plans, any funds remaining in the account at death may be subject to very high taxes if left to non-charitable heirs. Stocks, Bonds, Securities A gift of stocks, mutual funds or other publicly traded securities earns you an income tax charitable deduction equal to the fair market value of the securities on the date of the gift, and you will pay no capital gains on the transfer of these securities to the ETV Endowment. This can reduce the cost of making a gift or increase the amount you can afford to give. If you hold assets that have declined in value and would like to make a gift, it may be to your advantage to sell the assets and perhaps generate a deductible loss. The proceeds may then be donated as a tax-deductible contribution to the ETV Endowment, further reducing your income taxes. 7 Our Donors: Providing for Our Future The loyalty and generosity of our faithful ETV Endowment members have helped us not just to survive, but to succeed in reaching our goal of providing programming and services that educate, enlighten and entertain. The giving ideas highlighted in this guide may suggest a way for you to make the gift of a lifetime while at the same time providing opportunities to provide significant benefits for you and your loved ones. Through your will, trust, retirement plans or insurance, you can plan gifts in ways that have little or no impact on your present financial position. You may even be able to increase your income today as you arrange for future gifts. We hope you will consider a special legacy gift to the ETV Endowment to benefit ETV and ETV Radio. As a planned giving donor, you will become eligible for membership in our Legacy Society. Society members have each created a personal legacy gift that will make a lasting mark on our community through their public television and radio network. Their investment in ETV and ETV Radio will preserve the spirit and educational mission of ETV long after their lifetime, benefiting generations we have yet to know. We welcome the opportunity to discuss your gift plans in confidence and hope you will consider joining the Legacy Society. Please contact us at any time. We are available to assist you and answer any questions that you may have. Many thanks for your support! Dawn C. Deck Director of Planned Giving Toll Free Phone: 1-877-253-2092 Local: 864-591-0046 Fax: 864-573-7792 ddeck@etvendowment.org Individual sample bequest language forms including a codicil (for changing an existing will) are available for download on our ETV Endowment Estate Planning Pages on our website: www.scetv.org or you can call the ETV Endowment to request copies toll free at 1-877-253-2092. 8