Philo T. Farnsworth Society

KBYU Eleven is proud to honor the man who not only brought the world television, but also had a dream for its purpose.

Philo “Phil” T. Farnsworth, a Utah-born, Idaho farm boy, dreamed of trapping light in an empty jar and transmitting it one line at a time onto a magnetically deflected beam of electrons. By the time he was just 21, Phil had developed the first all-electronic television system. In addition to his contributions to television, he patented more than 130 inventions in his lifetime.

Eleven continues to recognize Phil for his contributions to the broadcast world. We believe in his dream that television can enrich, educate, uplift, and entertain.

What is the Philo T. Farnsworth Society?
The Philo T. Farnsworth Society brings together individuals who share Phil’s vision for television and who can help provide significant financial and nonfinancial support.

Generous society members offer tremendous support to Eleven with their charitable gifts of $1,000 or more annually. Their participation, which helps ensure that television will be used as a force for good, is vital to Eleven’s future.

The society has two main purposes. The first is to more appropriately recognize valued contributors who have both the vision and the means to support Eleven’s efforts in a substantial way. Second, the society offers a way to provide a significant source of annual funding that will help ensure continued excellence in programming and service to our statewide audience.

Phil Farnsworth had a vision of what television could accomplish; unfortunately, much of what is broadcast today fails to live up to his vision of uplifting, educating, and enriching lives.

Membership Privileges
Beginning in January 2010 society members will enjoy the following benefits:

• Invitations to special events, including complimentary tickets to theater, musical, dance, and sports events
• A subscription Eleven, our monthly program guide
• A quarterly newsletter with behind-the-scenes insider information available exclusively to society members
• Complimentary program guides for family members
• Free DVDs, CDs, and online media
• An invitation to the Philo T. Farnsworth Society’s annual reception

“Phil saw television as a marvelous teaching tool. There would be no excuse for illiteracy. Parents could learn along with their children. News and sporting events could be seen as they were happening. Symphonies would mean more when one could see the musicians as they played, and movies would be seen in our own living rooms. He said there would be a time when we could be able to see and learn about people in other lands. If we understood them better, differences could be settled around conference tables without going to war.” – Elma “Pem” G. Farnsworth (Phil’s wife)

Planned Giving: Leaving a Legacy for Generations to Come

Many of the wonderful things accomplished through KBYU Eleven are thanks to gifts from many generous people in a variety of forms. A planned gift is a great way to increase your income now and leave a legacy for generations to come. In many cases, you can arrange a gift through an annuity or a trust that will very likely yield a much higher rate of return than you can get with bonds or CDs. And your gift can have great tax advantages for you and your family.

Advantages of a Planned Gift
A gift can help you:

• Provide additional income for loved ones or for yourself in retirement.
• Address family needs such as education expenses for children or grandchildren.
• Avoid capital gains taxes at the time of the gift.
• Protect assets otherwise subject to estate and gift taxes.

Planned Giving Options
A planned gift may enable you to make a larger contribution than you ever thought possible. Designate Eleven as a beneficiary of your estate with a planned gift through:

• Cash
• Bequest by will or living trust
• Charitable gift annuity
• Trust
• Pooled income fund
• Life insurance
• Retirement Plans

Bequest by Will or Living Trust
Carefully prepared wills are the easiest way to ensure that assets are distributed in the way you intend. It is also one of the simplest ways to make a gift while keeping all your assets available during life in the event that circumstances and needs change.

Charitable Gift Annuity
In exchange for a contribution of cash or marketable securities, Eleven contractually agrees to pay a specified life annuity to you and/or another beneficiary. Rates depend on the ages of beneficiaries but often provide greater cash flow than fixed-payment investments. This method is also an excellent way to enjoy income-tax savings today while guaranteeing that the amounts used to fund the annuity will never be subject to estate tax.

Trusts
One common and flexible way to provide for you and your heirs while giving to Eleven is through the creation of a trust. A trust is a legal entity that can hold and invest property on behalf of beneficiaries. You may act as a self-trustee or you can choose an individual or corporate trustee to act in your behalf. Trust types include:

• Charitable Remainder Unitrust
• Charitable Remainder Annuity
• Charitable Lead Trust
• Revocable Living Trust
• Testament Trust

Pooled Income Fund
The pooled income fund contribution has some of the same features as a mutual fund investment. Each donor’s irrevocable gift of cash or specific marketable securities is combined with similar gifts in a single fund. The fund’s income for the year is then distributed in proportion to the interest of all the fund’s donors. When a particular interest ends, Eleven can be entitled to a proportionate share of the fund’s assets as its beneficiary.

Life Insurance
Life insurance is a valuable gift option that is often overlooked. As circumstances in life change, the need for insurance may diminish. A gift of life insurance may be made either by designating Eleven as the policy’s beneficiary or by arranging for Eleven to become the policy owner.

Retirement Plans
Many save a substantial portion of their retirement assets in IRAs and other qualified plans. In some cases, however, people who take full advantage of these tax-favored arrangements actually build more wealth than they need. Furthermore, once funds are withdrawn from IRAs and similar plans, they are usually fully taxable.
Consider designating Eleven as beneficiary for some or all of the assets that remain in a particular IRA or qualified plan at the end of your life. Since Eleven is a tax-exempt entity, we do not pay income taxes, and your estate gets a deduction for the amount left to us, so no estate taxes are paid on the amount.

Planning for the Future
By taking the time to carefully plan your gifts, you can make welcome contributions while you also:

• Create a source of regular payments in retirement years.
• Help support a parent, child, or another loved one.
• Increase cash flow from highly appreciated assets in a tax-wise manner.>
• Minimize gift, estate, and income taxes.
• Reduce expenses and delays of estate settlement.

Choose the option that matches your goal and know that your gift will continue giving to people all over the state for years to come. For more information on planned giving or to give a gift, please call 801-422-8416.

Note: The information provided here does not constitute legal or financial advice and should not be relied upon as a substitute for professional counsel. Eleven encourages you to seek professional and licensed legal, estate planning, and financial advice before deciding on a course of action.