Taxpayers 70 ½ or older are permitted to transfer up to $100,000 annually from their Individual Retirement Accounts directly to charity without first having to recognize the distribution as income. Additionally, the transfer is considered a qualified distribution. While the beginning age for required minimum distributions increased to 73 in 2023, qualified charitable distributions can still begin at 70½.
Stock gifts are beneficial to both the non-profit and you. By donating appreciated securities directly to a charity, you can increase both your gift and your deduction.
When you contribute stock to Cincinnati Public Radio, you’ll generally take a tax deduction for the market value on the day of the transfer. And because you are donating stock, your contribution and deduction may instantly increase due to the avoidance of capital gains tax.
Many listeners have set-up and are utilizing donor advised funds to support the charities they champion. For those considering using a donor advised fund to support Cincinnati Public Radio, here’s the information your fund administrator may request:
Legal Name: Cincinnati Public Radio, Inc. (dba WGUC; WVXU; WMUB)
Tax I.D. Number: # 31-1410636
Incorporated In: Cincinnati, Ohio
Mailing Address: 1223 Central Parkway, Cincinnati, Ohio 45214
Cincinnati Public Radio is a 501(c)(3) nonprofit organization.
IRS Letter of Determination available upon request.
