Outright gifts of cash or securities One of the easiest ways to set up a fund at the Foundation is by donating through cash or appreciated securities. Gifts can be made whenever you choose or in one lump sum. You receive the full tax deduction for your contribution in the year you make it. If the donation is made with appreciated securities, the donor pays no capital gains tax and is able to take an immediate charitable income tax deduction for the gift’s full fair market value.
Bequests A bequest in your will is the simplest way to make a gift to ensure Jewish continuity after your lifetime. You may choose to leave a specific amount, a residual or a percent of your estate by adding a simple codicil to your will. Your taxable estate is reduced by the amount of the charitable bequest, and your gift creates a lasting legacy to your life.
Life Insurance Policies You may make a charitable gift by purchasing life insurance to benefit a fund at the Foundation, or by naming the Foundation as the owner and beneficiary of an existing policy that you no longer need. A new life insurance policy can enable someone with many current family obligations to turn a relatively small contribution into a dramatically larger gift and all premiums are tax deductible. A paid up life insurance policy that is no longer needed makes an excellent gift, and you receive an income tax deduction for the cash surrender value of the policy.
State of Israel Bonds You can donate Israel Bonds that you have purchased and receive a tax deduction for your gift.
Life Estate gift of your home You can use your Home as both a financial planning tool and a charitable resource. The Life Estate Agreement offers donors the opportunity to use their home to make a significant gift to benefit any fund at the Foundation while continuing to reside in it. Donors may transfer the deed to their primary or secondary residence to the Foundation while reserving the right to live in it for the rest of their lives – a Life Estate. This lifetime transfer avoids any tax on the value of the property (including the capital gain), generates a current income tax deduction, and removes the property from the donor’s estate.
Retirement Plans Did you know that any funds remaining in an Individual Retirement Account (IRA) or other type of retirement plan might be taxed up to 80% after your death and/or your spouse’s? The taxes due on your IRA can be avoided by naming the Foundation as the beneficiary of your retirement plan. Your gift can benefit any fund at the Foundation and the exorbitant taxes will not have to be paid.
Real Estate or Personal Property Gift planning through real estate holds many possibilities, and may be the perfect asset to consider when making a significant charitable donation. You can donate land, a building, or even shares of a limited partnership that owns real estate. If you have owned real estate for more than 12 months and it has appreciated in value, you can donate the property to any fund at the Foundation. We sell it, you avoid the capital gains tax and receive a charitable income tax deduction for the full fair market value of the property.
Tangible Property Do you have a piece of art that is valuable but you no longer wish to keep? Do you have jewelry you no longer wear? Do you have a valuable collection of some kind that you no longer need? If so, there can make excellent charitable gifts. You receive a charitable income tax deduction for the original cost of the item. The item is no longer part of your estate and proceeds from the sale of the property can be used to benefit a fund to help you carry out your charitable giving.