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Stock Gifts

A donor may choose to donate appreciated assets directly to a charity as a cash-equivalent gift or include stocks in a bequest. Through a gift of stock, if you will receive an income tax deduction and are able to avoid capital gains taxes.

Private/Family Foundation

A donor creates a private foundation as a separate tax-exempt entity, either as a non-profit corporation or in the form of a trust, and the private foundation accepts contributions from usually one or a limited number of donors. Family Foundation gifts are eligible for charitable deduction, have an impact on many organizations over an extended period, and you are able to engage family members and others with opportunities to influence philanthropic giving now and in the future.

Donor Advised Fund (DAF)

A donor, through a written agreement with the public charity, creates a specially named fund account to which contributions are made. Some families use DAFs as an alternative way to establish a family foundation. DAF gifts are eligible for the higher adjusted gross income limits for philanthropic contributions and require less oversight and management than a private foundation.

Qualified Retirement Plan Beneficiary Designations and IRA-Qualified Charitable Distribution

A donor names a charity as the beneficiary of a retirement plan or IRA. A donor gives funds from their IRA to a charity to fulfill their Required Minimum Distribution (RMD). This type of gift eliminates income tax on retirement plan assets and allows you to leave family other assets that carry less tax liability.

Bequest

A written statement in a donor’s will directing that specific assets, a percentage, or remainder of the estate, will be transferred to charity on the occasion of the donor’s death. The gift is fully exempt from estate tax and does not affect your current cash flow or portfolio.

Life Insurance

A donor names a charity as a beneficiary of an existing policy, either fully paid or partially paid, or a new policy. Life insurance gifts allow you to make a large gift for a minimal outlay of cash. Federal income tax deduction equal to the cash surrender value of the property and any future premiums paid if the charity is named the owner and beneficiary of the policy.

Temple Sholom encourages you to consult your financial or tax advisor to help you determine which gift options are best for you and your family for tax purposes. Please contact Tal Rosen, tal@sholomchicago.org, with questions regarding how to make your gift to Temple Sholom. We are eager to find a giving method that aligns best with your needs and interests.