Legacy and Endowment
All of Us Are Indebted to the past, to those who precede us. We drink from wells we have not dug. We enjoy liberties we have not won. We share faith whose foundations we have not laid.
At the same time, We Are Seeds of the Future for those who succeed us. We dream and envision and set things in motion. The fruition of our decisions will be known only to others whom we will not meet. We are called to partner with those who have gone before us and to offer the best that we have to give to those who will follow.
We need a Legacy and Endowment to provide long-term, financial stability. An Endowment can provide future support to our operating funds.
You can join with others and be remembered forever at Temple Kehillat Chaim with a gift. There are many ways you can leave your legacy and/or give to the Endowment.
Ideas for Giving NOW or LATER
Cash gifts are payable over multiple years. Gifting cash can help further tax deductions if you itemize or if it will help you itemize.
Transfer appreciated stock, Mutual Funds, Realty, other items of value versus using your cash (could be tax deductible, will save you paying capital gains tax on gains, and TKC pays no tax upon liquidation).
From Retirement Accounts:
If over 70 1/2 years old, transfers directly from IRA can apply towards your Required Minimum Distributions (RMD) and saves you paying the tax you would normally incur on that distribution. TKC also pay no tax as a 501(c)3. Allowable up to $100K per year per IRA owner.
If you have your own business, tax deductible "Corporate Donations" can be made form either - check with your CPA if from your business.
Donor Advised Funds:
Give cash or assets into a DAF where they can become tax free and grow. Then distribute over time to TKC. Current and future (carry forward) tax deductions could apply.
Charitable Giving Trusts:
You get an income while alive and the charity gets what is left when you die (tax free), or vice versa (can use highly appreciated assets).
Assuring TKC's Tomorrow Being Remembered Forever!
Put TKC as a % beneficiary on your IRA (this money is better for you to contribute to TKC to receive than your beneficiary who will pay ordinary income tax on inherited retirement funds whereas TKC won't)
Put TKC as a specific $ amount or % to be paid from estate at death in your will.
Put TKC as a % beneficiary on your Life Insurance (Life insurance generally is tax free to both heirs and charities)
Note: the above are suggestions. Please consult a Financial Advisor and/or CPA regarding your best option.