Stocks and Bonds
A gift of securities is an easy way to make a gift. By making a gift of your appreciated stocks or bonds, you can avoid paying capital gains tax that would otherwise be due if you sold these assets.
A gift of real property (such as your home, vacation property, vacant land, farmland, or range or commercial property) can make a great gift while avoiding paying capital gains tax.
A gift of retirement assets, such as a direct distribution from your IRA, or naming the Federation as the beneficiary of your 401k, 403b, pension, or other tax deferred plan, is an excellent way to make a gift. Federal law allows a taxpayer 701/2 years old and older to make a tax neutral distribution from an IRA. You may give up to $100,000 per year. In addition, your spouse may also give $100,000 per year, if he or she also has an IRA with sufficient funds. T You may give a qualified charitable distribution (the term used in the law) from your IRA directly to the Federation but it may not be used to fund a philanthropic fund, charitable remainder trust or charitable gift annuity.You can earmark the gift toward a specific use within the Federation such as making a gift to to the Annual Campaign, creating a PACE or LOJE fund to endow your annual campaign gift, or creating a special endowment fund to support a focused area of interest to you in the Jewish community. In the past, a cash withdrawal from your IRA, whether you gave it to charity or not, would be taxed to you as ordinary income, regardless of the charitable deduction. Under this new law, a contribution from your IRA is excluded from federal income tax. Although the gift is not eligible for an income tax charitable deduction, making a gift from your IRA will not impact the tax benefits of gifts you make to charity from other sources. The Federation would be pleased to provide you with a sample letter you can use to direct that a distribution be made from your IRA to the Federation.
Donor Advised Philanthropic Funds
A donor advised philanthropic fund is a semi-permanent fund of the Federation and a personal expression of your tzedakah. It is your "charitable checkbook," aligning your philanthropic interests with the Jewish community's needs and priorities. Through hands-on philanthropy, your personalized philanthropic fund will continue to benefit the community into the future. While you make recommendations for annual distributions during your lifetime, upon death the gift becomes part of the Federation's Endowment Fund, perpetuating your name and your lifetime of commitment. Your fund allows your charitable dollars to grow tax-free, thereby increasing the resources available. You can create a fund with low minimum irrevocable gift of cash, securities or other property. Federation staff will disburse funds based on your recommendation and take care of the record keeping.
A gift of cash is a simple and easy way to make a gift.
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LEAVE YOUR LEGACY
A gift of your life insurance policy is an excellent way to make a gift to us. If your life insurance policy is no longer needed or will no longer benefit your survivors, consider naming the Federation as your beneficiary.
Make a gift that will endure the test of time. Your Last Will and Testament is an important element in your estate plan that enables you to protect the people you love while creating a lasting partnership with the Youngstown Area Jewish Federation that helps ensure the future of our Jewish community. Your charitable bequest may include cash, securities, insurance or property. Your taxable estate is reduced by the total amount of the gift while you retain use of the assets during your lifetime. You can declare your intention to establish a charitable bequest to express your enduring commitment to your Jewish community by signing a Declaration of Intent today. While not a legal document, your Declaration of Intent is your promise to include your Jewish Federation in your estate plan.
CREATE INCOME FOR LIFE
Charitable Gift Annuity
A charitable gift annuity is a contract between you and the Federation that provides you and/or another person with an income for life. In exchange for an irrevocable transfer of cash or marketable securities, you or the beneficiary will be paid a fixed sum each year for life. You are able to claim a tax deduction for the gift portion which can be used to establish an unrestricted or designated gift. At the expiration of benefits, you have left a permanent legacy as a link to our people's continuous tradition of tzedakah and Klal Yisrael.
Charitable Remainder Trust
A charitable remainder trust is a creative way to create a lasting legacy in your name while receiving income from the trust for life or for a specified number of years. Upon expiration of that term, the remainder of the trust goes toward the philanthropic purposes you established at its creation. Your Charitable Remainder Trust can be designed to provide a fixed annual payment or a percentage of the value of the assets. This trust can provide income for you, a spouse or someone you designate. You'll receive an immediate tax deduction at the time the trust is created while incurring no immediate capital gains tax on the transfer of appreciated assets. You'll also experience a tax benefit when these assets are removed from your taxable estate.
Charitable Lead Trust
A Charitable Lead Trust minimizes estate taxes on assets you intend to leave to your children or grandchildren, particularly when those assets are expected to appreciate. After transferring your assets, the Trust provides a substantial charitable gift through fixed amount payments to the Federation for a specific term of years or for your lifetime. Thereafter, the principal passes on to your heirs or beneficiaries. Additional appreciation of assets is not subject to estate taxes for the term of the trust.
Named Endowment Fund
A special endowment fund, a permanent fund of the Youngstown Area Jewish Federation, creates a permanent legacy perpetuating your ideals and your name or that of a loved one. At its creation, you may designate how you wish the annual fund distribution to be used. An endowment is started with a low minimum irrevocable gift of cash, securities or other property and provides tax advantages either during your lifetime or for your estate.
For more information about matching your financial and philanthropic goals, call Lisa Long at (330)746-3250, Ext. 175 or email her at email@example.com or contact your personal financial advisor today.