Thank you for helping us grow into a celebrated source of information, music, entertainment, education and the arts for our community.
Contributions you make today help provide the funds necessary to serve our community each day, but by planning a gift in your overall estate or financial plans, you can help ensure that we’ll be here for years to come. You don’t have to be a certain age or very wealthy to make a big difference—you just need a plan, and you’ve come to the right place to start yours.
Your support of the Catalina Island Performing Arts Foundation, a 501(c)(3) non-profit with the mission to promote the performing arts for the Catalina Island community; the residents, businesses, visitors and lovers of island – CIPAF operates and supports KISL as a valuable resource to embolden that mission.
There are many ways to set up legacy giving, please reach out and will are happy to discuss what works best for you.
Hear ya’ later!
Give From Your IRA: A Tax-Saving Way to Help KISL
You can support KISL and save on you Taxes, for doing something good!
No matter your age you can designate KISL, via CIPAF, as the beneficiary of all or a percentage of your IRA and it will pass to us tax-free after your lifetime.
70.5 Years Young and Wiser
You can give any amount (up to a maximum of $100,000) per year from your IRA directly to a qualified charity such as CapRadio without having to pay income taxes on the money. Gifts of any value $100,000 or less are eligible for this benefit and you can feel good knowing that you are making a difference at CapRadio. This popular gift option is commonly called the IRA charitable rollover, but you may also see it referred to as a qualified charitable distribution, or QCD for short.
Why Consider This Gift?
- Your gift will be put to use today, allowing you to see the difference your donation is making.
- Beginning in the year you turn 72, you can use your gift to satisfy all or part of your required minimum distribution (RMD).
- You pay no income taxes on the gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your deductions.
- Since the gift doesn’t count as income, it can reduce your annual income level. This may help lower your Medicare premiums and decrease the amount of Social Security that is subject to tax.
59.5 Years Young and Wiser
If you are at least 59½ years old, you can take a distribution and then make a gift from your IRA without penalty. If you itemize your deductions, you can take a charitable deduction for the amount of your gift.