Ways to Make a Planned Gift

A charitable bequest in your Will or Trust is one of the easiest ways to leave a lasting impact on our Jewish Community. You can specify a dollar value, a percentage of your Estate, or the residue of your Estate. Your bequest can include cash, securities, or other property.

 

If you already have an existing Trust or Will in place, your lawyer can prepare a simple codicil or amendment for you, to provide for your bequest.

 

SAMPLE BEQUEST LANGUAGE

When meeting with your attorney, these are some suggested language options that you can choose to include in your Will or, with certain modifications, in your Revocable Trust-

 

For Unrestricted Gifts

“I give to the  Jewish Community Fund of WNC of the Community Foundation of WNC the sum of $______  to be added to its Unrestricted Endowment Fund.”

“I give to the Jewish Community Fund of WNC of the Community Foundation of WNC [describe specific property] for its Unrestricted Endowment Fund.”

“I give ___% of my residuary estate to the WNC Jewish Federation  to be added to its Unrestricted Endowment Fund.”

 

For Special Purpose Gifts

“I give to the Jewish Community Fund of WNC of the Community Foundation of WNC the sum of $______  to be added to its [name of fund] to be used for the purposes of the Fund.”

“I give the sum of $______  or ___% of my residuary estate to the  Jewish Community Fund of WNC of the Community Foundation of WNC   to establish the [name under which you’d like the fund established], distributions from which shall be used for [specific purpose, program, service, or field of interest].”

Donors who are 55 years and older who establish a Charitable Gift Annuity can receive a tax deduction while supplementing their income and supporting the Jewish community.

 

After establishing a Charitable Gift Annuity with the Community Foundation of WNC, you’ll be paid a fixed amount each year for life, in exchange for your irrevocable transfer of a minimum of $10,000 in cash or appreciated stocks. The return rate is based on your age when you establish the Annuity, is typically very competitive, and is only partially taxed. Upon your death, any amount remaining in the Gift Annuity will be used to support the Jewish Community Fund of WNC of the Community Foundation of WNC or another Jewish organization that you designate.

IRAs and other retirement plans are subject to taxes when left to heirs, making them among the most costly assets to leave to your family. By gifting it to to the Jewish Community Fund of WNC, you can realize the full value of your retirement plan.

 

When you use your retirement plan assets to fund a Permanent Endowment Fund, a Philanthropic Donor-Advised Fund, or Charitable Remainder Trust at the Community Foundation of WNC, you’ll use assets that would have been heavily-taxed to, instead, perpetuate your charitable donations.

You can make a big impact at minimal cost by gifting an existing Life Insurance policy you no longer need, or by naming the WNC Jewish Federation as the owner and beneficiary of a new policy.

 

When transferring an already-existing policy, you’re able to deduct slightly more than the net cash value of the policy, for income tax purposes. And, any gift you then make to Jewish Community Fund of WNC of the Community Foundation of WNC to allow for any premium payments could also qualify as a current income tax deduction.

 

By naming the Jewish Community Fund of WNC of the Community Foundation of WNC as the owner and beneficiary of a new policy, when you give money to the Jewish Community Fund of WNC of the Community Foundation of WNC to pay premiums, those payments would also be qualified as a current income tax deduction. Plus, the younger you are, the lower those premium payments would be.

By making an Outright Gift to Jewish Community Fund of WNC of the Community Foundation of WNC  you will be making a contribution during your lifetime that will serve our Jewish community for years to come.

 

You can give almost any kind of asset – including cash, securities, or tangible property – to the Jewish Community Fund of WNC of the Community Foundation of WNC. And your gift can be made in honor or in memory of a loved one.

 

You can then deduct the full value of your gift from income taxes. Plus, for certain types of assets, you wouldn’t be subject to capital gains tax.

 

By making your gift outright, you’ll then be able to see the impact of your giving during your lifetime.

There are many tax and financial benefits for donors giving the Jewish Community Fund of WNC of the Community Foundation of WNC appreciated stocks or bonds that have been held for more than one year. You can deduct full fair-market value of the stock on the date of your gift, and you are not taxed on the capital gains that would have been due if you’d sold the stock yourself.

 

This stock can be used to begin a Philanthropic Donor-Advised Fund (DAF) at the Community Foundation of WNC, ensuring you get a full deduction for the value of your stock while also keeping the right to recommend distributions to the charity of your choice.

 

You can also use this stock to increase your income and save on taxes, through a charitable life income plan.

Establishing a Philanthropic Donor-Advised Fund (DAF) can simplify your charitable giving while providing you with significant tax advantages. With a gift of $10,000 or more to Community Foundation of WNC in cash, securities or other property, you can create a Philanthropic Donor-Advised Fund in the name of your choosing.

 

Once you’re a DAF fund holder, you can recommend charitable distributions to Jewish and secular charities of your choosing, whenever you wish. Until distributions are made, the assets of the DAF grow tax-free, with your choice of investment strategy.

 

For more info on establishing a Philanthropic Donor-Advised Fund, click here.

Current Philanthropic Donor-Advised Fund holders can access their account online 24/7 at the holding charity.

Real estate can be given to the Jewish Community Fund of WNC of the Community Foundation of WNC in a number of ways, each affording you its specific benefits.

 

During your lifetime, you can convey real estate to Jewish Community Fund of WNC of the Community Foundation of WNC – with the property being transferred to the Jewish Community Fund of WNC of the Community Foundation of WNC by deed and sold, its proceeds being used to establish a permanent endowment fund. The Community Foundation of WNC has special expertize in handling gifts of real property.

 

You can also gift real estate through a Will or Revocable Trust.

 

Another option is to transfer the deed to your home or second home to Jewish Community Fund of WNC of the Community Foundation of WNC while living in the home for the rest of your life.

 

Donor benefits of giving gifts of real estate can include elimination of capital gains tax, potential annual income, as well as the opportunity to significantly support the good work of Jewish Community Fund of WNC of the Community Foundation of WNC.