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Information about Donations to the Temple

Kindly provided by Mort Johnson, CRPC®, Financial Advisor, Financial Planning Specialist with Morgan Stanley Smith Barney LLC

Giving Appreciated Assets:

A charitable deduction for both income tax and capital gains tax can be taken based on the fair market value of the stock at the time your gift is made. Gifts of low-basis stock can produce larger charitable deductions. If you give shares of low cost basis stock directly to the Temple Beth Sholom charitable account, you will receive a charitable income tax deduction for the full fair market value of that stock. This allows The Foundation to receive that total amount and allows you to bypass the capital gains tax you would otherwise have to pay were you to sell the stock and donate cash.

A gift of closely-held stock can allow the donor to maintain control of the corporation while still claiming both capital gains and income tax deductions. A gift of appreciated real property will allow the donor to avoid capital gains tax as well as brokerage fees and closing costs.

Giving Through Your Will:

A specific dollar amount, specific asset, or percentage of an estate may be specified in a donor's will or trust to be paid to Temple Beth Sholom.

Giving Life Insurance:

New or current life insurance policies may be transferred or irrevocably assigned to Temple Beth Sholom as beneficiary; or a donor can retain ownership of a policy, pay the premium and simply name Temple Beth Sholom as the beneficiary. Both have substantial tax benefits to the donor and the donor's estate.

Gift Annuity and Pooled Income Fund:

These vehicles are a legal agreement to transfer money or securities to Temple Beth Sholom. The donor receives fixed payments for life based on his or her age, prevailing interest rates and an actuarial table, as well as an income tax deduction for the donated asset value.

Charitable Remainder Trust:

A significant donation can be structured in a trust as either a lifetime income for one or more beneficiaries, with the income going to Temple Beth Sholom, or with the lifetime income going to Temple Beth Sholom and the remainder going to the beneficiaries. Trusts can be designed to meet individual needs of the donor to provide savings on income, capital gains and estate taxes.

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