GIFTS FOR THE FUTURE In general, your contributions can be made either as an outright gift during your lifetime, a gift provided by your will or as a gift in trust. Examples of these methods of contribution are as follows:
Gifts of Cash and Securities Lifetime gifts of cash and securities are tax deductible. Gifts of securities which have appreciated in value and which you have held for more than one year allow for a dual tax benefit. In addition to receiving a charitable deduction in an amount equal to the fair market value of the appreciated security, you will not have to pay any capital gains tax.
Gifts of Life Insurance There are several ways in which life insurance can be used as a method of contributing. For example, the Temple can be named as the irrevocable beneficiary of a new or old policy, or you can assign ownership of the policy to the Endowment Fund. Each method provides separate income and estate tax benefits.
Testamentary Bequests (Gifts by Will) Bequests to the Temple may be either in the form of a specific sum of money (specific bequests) or all or part of what remains of your estate after specific provisions have been made for family and friends (residuary bequests). In addition, testamentary gifts may be established in trust.
Gifts in Trust Either lifetime or testamentary contributions to the Temple may be structured as Charitable Remainder Trusts, with the income reserved for your lifetime or the lifetime of a beneficiary under your will and the remaining balance ultimately transferred to the Endowment Fund. In addition, lifetime contributions may be structured as Charitable Lead Trusts, with the income paid to the Temple, and the remaining balance ultimately reverting back to you or your designee.
Endowment Fund gifts and bequests may be made on a restricted or unrestricted basis. For more details about methods of participating, please contact Mark Criden at Temple at 836-6565 or Peter Fleischmann at the Foundation for Jewish Philanthropies at 882-1166.