Help ensure our shared legacy.
|
Thank you so much for taking the time to learn a little bit more about the many benefits of planned giving. We hope that some of the basic information provided on this page will give you a starting point for conversations and planning the best way for you to ensure a legacy gift to the ISJL that will keep our support of Southern Jewish communities flourishing for decades to come.
To discuss a legacy gift, email us anytime. What is planned giving? A planned gift is a charitable gift that you decide now to make at some time in the future as part of your estate and gift plan. A planned gift can benefit you and loved ones that you name. At the same time, it stands as a lasting reminder to your children and succeeding generations of the values and charitable works that are most important to you. Did you know? If you are the owner of a Traditional IRA (or beneficiaries after the death of the owner) and you are age 70 ½ or older, you may make qualified charitable distributions of up to $100,000 per year directly from your IRA to the Goldring/Woldenberg Institute of Southern Jewish Life (ISJL). The distribution counts toward meeting any Required Minimum Distribution (RMD), but is not included in calculating the individual taxpayer’s taxable income nor treated as a deductible charitable contribution. This approach is often more advantageous than making a taxable IRA withdrawal followed by a charitable contribution of some or all of the distribution because of the impact of the various limits on the deductibility of charitable contributions. This option is not available for 401(k) plans, SEPs or Simple IRAs. What are some specific examples of planned gifts? Bequest You designate the ISJL as the beneficiary of your asset by will, trust or other instrument. IRA Rollover Congress recently enacted a permanent extension of the IRA Charitable Rollover. Ask your financial advisor about this option and how it may work with your IRA. Charitable Gift Annuity You transfer your cash or appreciated property to the ISJL in exchange for our promise to pay you fixed income (with rates based on your age) for the rest of your life. Charitable Unitrust You transfer your cash or appreciated property to fund a charitable trust. The trust sells your property tax free and provides you with income for life or a term of years. Charitable Annuity Trust You transfer your cash or appreciated property to fund a charitable trust. The trust sells your property tax free and provides you with fixed income for life or a term of years. Charitable Lead Trust You transfer your cash or property to fund a lead trust that makes gifts to the ISJL for a number of years. You receive a charitable deduction for the gift. Your family receives the remainder at substantial tax savings. IRA Charitable Rollover (for age 70+) If you are 70 ½ or older, this is a great option: These gifts count toward your required minimum distribution (RMD), you don’t pay tax on the distribution (hence you benefit whether you itemize your deductions or take the standard deduction), and the gift can be applied to existing pledges. The donation must come from your IRA directly to the ISJL and must be made outright (it cannot be used for a charitable gift annuity, donor advised fund, or private foundation). Information compiled from resources including PlannedGiving.com, the Jewish Federation of North America, and IRS.gov. Any tax consequences described on this page are based on U.S. federal tax law. The Goldring/Woldenberg Institute of Southern Jewish Life does not provide legal advice. Donors are encouraged to seek independent tax and legal counsel. Always consult with your tax advisor before making any decisions regarding charitable donations or planned gifts. |
ISJL Board Members Joe Herzog and Robert Roubey
ISJL Board Meeting October 2023 
|