Legacy Giving & Bequests
Kachemak Bay Broadcasting, Inc., was first incorporated as a nonprofit in 1976. Bev Munro, a local lover of public radio, organized a group of energetic folks to bring public radio to Kachemak Bay. With the labor and love of many community volunteers a wire was strung across Spit Road, and KBBI was born.
Over 40 years later KBBI continues to grow and evolve to meet the needs of the community, expanding our broadcasting range and becoming your favorite source for reliable local and international news, information, entertainment and an essential source for vital emergency broadcast services.
If you value the services KBBI provides you can help ensure it continues to play a vital role serving the southern Kenai Peninsula in the future through a gift in your estate plans, known as a charitable bequest or planned giving. Creating a legacy does not require large income or a vast estate. All that’s required is the decision to make a difference for generations to come. Read on to learn about different ways you can leave a legacy with KBBI or contact our Development Office at 235-7721 ext. 224 for a no obligation conversation about ways to leave a legacy with KBBI.
When including a bequest provision in your will always use the organization’s legal name and provide the federal taxpayer identification number.
KBBI’s full legal name: Kachemak Bay Broadcasting Incorporated
KBBI’s federal taxpayer identification number: 92-0060366
If you wish to make a bequest to the KBBI endowment through the Homer Foundation please reference our fund KBBI Public Radio Endowment Fund. The Homer Foundation's EIN is 92-0139183.
If you choose to remember us in your plans we encourage you to let us know so we may thank you; you have no obligation to disclose the amount you intend to give and we can keep bequest intentions confidential. Sharing your intention to join the legacy society, however, can be an excellent way to encourage others in our community to make the same commitment. Finally, if there is someone special in your life who shares your commitment to KBBI, establishing a memorial or tribute gift is a meaningful and lasting way to honor that person.
Common types of planned gifts:
The most common type of planned or legacy giving is a bequest through a will or trust. By creating a will or having your attorney make a simple revision to your will, you can make a gift of a certain dollar amount, a specific percentage of your estate, or what is left after your loved ones have been taken care of. Here are three types of bequests naming KBBI as a beneficiary:
- An OUTRIGHT BEQUEST is for a specified asset i.e. a stated amount or percentage of cash, stocks, real estate, or items of personal property. Example: I give, devise and bequeath the sum of $10,000; or 100 shares of the ABC Corporation; or 10% of the total value of my estate to Kachemak Bay Broadcasting Incorporated an Alaskan nonprofit, tax-exempt corporation located in Homer, Alaska.
- A RESIDUARY BEQUEST provides for the transfer of all or a portion of an estate that remains after all outright bequest provisions are fulfilled. Example: I give, devise and bequeath the residue; or 25% of the residue of my estate to Kachemak Bay Broadcasting Incorporated, an Alaskan nonprofit, tax-exempt corporation located in Homer, Alaska.
- A CONTINGENT BEQUEST is made when the original beneficiary named in the will is unable to accept the asset or property. This type of bequest can be all or a portion of an estate. This type of arrangement is advantageous for someone whose main concern is providing for his/her family. For example, a donor can bequeath his/her entire estate to his/her spouse; if the spouse predeceases the donor, the bequest benefits the contingencies.
Your outright gift of long-term, appreciated securities (stocks, mutual funds, and bonds) is exempt from capital gains taxes and, in most cases, enables you to obtain a charitable income tax deduction equal to the market value of the securities at the time of transfer. Gifts of appreciated securities are simple to make and can be completed with or without a stockbroker.
Whether you are participating in a company pension plan or other private plan such as an Individual Retirement Account (IRA), you may find that you have accumulated funds beyond your needs. Such excess funds may be given during life (subject to minimum age requirements for penalty-free withdrawals) or at death. Funds remaining in retirement accounts at death may be subject to very high taxes if left to non-charitable heirs.
The cash value of the gift is tax deductible, as are any future premiums the donor may opt to pay on that policy. Note that only life insurance policies that are paid in full qualify as planned gifts.
In general, KBBI does not accept gifts of any property.
Disclaimer: The information provided is for educational purposes and KBBI is not an advisor.
Read more for Frequently Asked Questions & Answers.
For More Information:
There are many ways to plan special gifts for KBBI and your other charitable interests – a bequest through your will is just one. Whatever your plans may be, we encourage you to call or write for more information, without obligation. You may reach us at:
KBBI Development Director
3913 Kachemak Way
Homer, AK 99603
907-235-7721 ext. 224