2023 Second Quarter Newsletter
WOMEN OF VISION SOCIETY
2023 GRANT AWARDS
The Women of Vision Society was created in 1996 in order to ensure that a permanent, restricted endowment fund would forever be available to enhance the quality of life for Jewish women and their families in Greater New Haven. One hundred women contributed $1,000 each to establish the original endowment, from which grants have been made annually since 1998.
The Women of Vision Society Too initiative was launched in 2002 to allow additional members of the community the opportunity to help increase the monies available for grants that support scholarships for Jewish women to study in Israel or do graduate work in a Jewish-related subject, speakers for Jewish women’s programming, and projects of concern to the Jewish home and family.
Since 1998, over $220,000 in grants has been distributed.
DIGNITY GROWS
Jewish Federation of Greater New Haven
FEMALE HAREDI LONE SOLDIER PROJECT
Yashar LaChayal
Yashar LaChayal launched this initiative in 2019 to support female ultra-Orthodox lone soldiers in the Israeli Defense Forces (IDF). These young women aren’t supported by their families due to their decision to serve in the IDF. The Lone Soldier Project provides them with housing and a support system during and after their service.
AIM HIGHER: THE FEUERSTEIN ACADEMIC INTEGRATION PROGRAM FOR YOUNG WOMEN FROM THE ULTRA-ORTHODOX COMMUNITY
The Feuerstein Institute
Aim Higher assists ultra-Orthodox women to access higher education. It equips students withcognitive, social, and academic resources to ensure the successful completion of their degrees.Beyond university, the aim is to encourage career specialization and economic security.
ADOPT A BUBBE: AN INTERGENERATIONAL JEWISH PROGRAM FOR WOMEN AND GIRLS
The Towers at Towers Lane
This is a project in collaboration with Southern CT Hebrew Academy and Bais Chana Academy. This monthly program pairs female elementary and high school students with female residents at the Towers who are interested and in need of meaningful social connection and engagement.
Each session will focus on a Jewish holiday, or theme. Fun, achievable, and meaningful activities will provide the setting for friendships, mentorship, and reduction of isolation. Each session will include some education appropriate for both seniors and participating students.
EMPOWERING BBG* LEADERS AT CONVENTION
B’nai B’rith Youth Organization
To provide specific programming for girls at the BBYO convention. This will include mental health and wellness, transferable leadership skills, and programs designed to build inclusive communities. This will also build a positive culture of sisterhood within convention participants, and encourage healthy relationships. *B’nai B’rith Girls
ELM CITY KALLAH SCHOLAR-IN-RESIDENCE
Elm City Kallah
Elm City Kallah is a multi-shul collaboration. The event will take place at two Conservative and one Orthodox synagogue (Congregation BEKI, Congregation B’nai Jacob, and Westville Synagogue) and feature Rory Picker Neiss. The event will be October 27–29, 2023, and is open to Jews of all backgrounds and traditions. The participants will be invited to pray, sing, eat, and study at each synagogue. The hope is that we will build bridges among women of all traditions in order to foster a robust Jewish community.
COMMUNITY BUILDING FOR YOUNG IDF WIDOWS
IDF Widows and Orphans Organization
Through specifically designed programs, this initiative aims to establish a strong community for widows of IDF soldiers and members of the Israeli security forces with children age 21 and younger. This initiative will work to encourage personal growth through a variety of enriching activities to bring this vulnerable community together and empower them to support themselves.
Create a Jewish Legacy
We all strive to leave the world a better place through
our children, our good deeds, our generosity.
Create a Jewish Legacy is a program sponsored and presented by the Jewish Foundation of Greater New Haven and is a collaborative effort of our area agencies and synagogues to secure the future of the New Haven Jewish community.
Create a Jewish Legacy for:
Jewish Federation of Greater New Haven (PACE)
Temple Beth Tikvah
Beth Israel Synagogue
Westville Synagogue
Congregation Mishkan Israel
Temple Beth David
Congregation Or Shalom
Temple Beth Sholom
Temple Emanuel
Congregation Beth Shalom Rodfe Zedek
Congregation B’nai Jacob
Congregation Beth El–Keser Israel
Orchard Street Shul
Jewish Family Service
Camp Laurelwood
Towers at Tower Lane
Ezra Academy
Southern Connecticut Hebrew Academy
Jewish Community Center of Greater New Haven
UConn Hillel
Jewish Cemetery Association of Greater New Haven
Jewish Historical Society of Greater New Haven
New Haven Mikveh Society
Be forever remembered by our community for the legacy you leave.
Make YOUR legacy a brighter Jewish tomorrow.
The Oppenheimer Family created a legacy for their synagogue, Congregation Beth El-Keser Israel.
“This is the only shul to which Cyd and I have ever belonged. We joined in time for the baby-naming of our eldest daughter over 16 years ago, and it has been our Jewish home—and, really, a home in so many more ways—ever since. It gives us a great feeling of pride to leave something in our will for BEKI (it was also much easier to do the paperwork than I had thought), and I hope others will do it, too. I think it’s especially meaningful for members in their 20s, 30s, and 40s, people who don’t typically think of having an ‘estate,’ to do this. When we’re gone, the shul will be here for our children.”
MARK OPPENHEIMER
JEWISH FOUNDATION BOARD OF TRUSTEES
Scott Hurwitz
Chair
Norman Alderman
Nan Birdwhistell
Linda Caplan
Marty Cobern
Nancy Cohen
Women of Vision
President
Suzanne Frisch
Development Chair
Eric Green
Vice-Chair
Glen Greenberg
Erica Gross
Eric Grubman
David Hass
Jackie Koral
Sarah Nuland
Michael Price
Linda Randell
Eric Ravid
Treasurer
Lewis Shaffer
Doug Skalka
Kal Watsky
Richard Weiss
ADVISORY
Gerry Barker
Federation President
EX-OFFICIO
Rabbi Benjamin Scolnic
Board of Rabbis Appointee
EX-OFFICIO/PAST CHAIRS
Steve Fleischman
Steve Glick
Betsy Hoos
LOJE Chair
Jeffrey Hoos
John Levy
Stephen Saltzman
Craig Sklar
Investment Chair & Jewish Elderly Grants Chair
Mark Sklarz
Governance Chair
David Trachten
PROFESSIONAL TEAM
Lisa Stanger, JD, LL.M.
Executive Director
[email protected]
(203) 387-2424, x382
Tiberius Halai
Grants & Gifts Manager
[email protected]
(203) 387-2424, x312
Beth Kupcho
Director of Scholarships & Philanthropy
[email protected]
(203) 387-2424, x316
Stephanie Licsak
Controller
[email protected]
(203) 387-2424, x327
Tamara Schechter
Create a Jewish Legacy Manager
[email protected]
(203) 387-2424, x325
TAX-SMART WAYS TO GIVE
STOCK GIVING
When you donate long-term appreciated securities, you can claim a charitable income tax deduction for the fair market value of the securities on the date of transfer, no matter what you originally paid for them. You pay no capital gains tax on the transfer.
Donating the stock results in no capitals gains tax being paid, a larger itemized deduction, and more money for the charity of your choice. That’s a win-win!
If the Securities Have Appreciated
If the securities originally cost $2,000 and now have a fair market value of $10,000, you do not pay tax on the $8,000 gain. You may, however, claim a charitable income tax deduction for the full $10,000.
If the Securities Have Depreciated
In this case, it is usually better to sell first. By doing so, you can take the capital loss for tax purposes and then donate the cash.
| Gift of $10,000 cash | Gift of $10,000 stock | |
| Initial cost basis of securities/appreciation | N/A | $2,000/$8,000 |
| Capital gains tax saved or paid (assumes 20% rate) | N/A | $1,600 |
| Personal income tax savings (0.35 x amount donated) | $3,500 | $3,500 |
Net Tax Savings |
$3,500 |
$5,100 |
This example assumes 35% tax bracket, a cost basis of $2,000, that the investment has been held for more than a year, and that all realized gains are subject to a 20% long-term capital gains tax rate. This does not take into account any state or local taxes.
Extra Tip: Consider Bunching!
If you do not itemize deductions, consider bunching your donations instead. When you bunch donations of stock to a donor-advised fund, your itemized deductions can go beyond the current standard deduction amounts for 2022 ($12,950 for individuals; $25,900 for joint filers). By doing so, you can claim a charitable income deduction this year, and then distribute the monies to the charities of your choice over several years.
RETIREMENT PLAN GIVING
Charitable Giving Opportunity with an IRA During a Donor’s Lifetime
The Charitable IRA Rollover is a way for you to pay less tax while supporting your favorite charities. You can donate up to $100,000 from your traditional IRA—tax-free.
This strategy may be right for you if you:
- are age 70 ½ and older;
- want to reduce the value of future distributions you will be required to take;
- do not itemize your deductions and would like to realize an increased tax benefit for your giving;
- already contribute to charity at your deduction limit, and you want to donate more;
- do not need your Required Minimum Distribution;
- have a secondary smaller IRA you do not need; and/or
- wish to reduce your IRA and remove it from your taxable estate.
Retirement Plan as Part of Your Estate Plan
Retirement plans, such as IRAs/401(k)s/403(b)s, are tax-plagued assets when they are left to a non-spouse beneficiary. Under the Secure Act, a non-spouse
beneficiary of an IRA/401(k)/403(b) must withdraw the entire amount of the inherited retirement within 10 years; non-spouse beneficiaries are no longer permitted to “stretch” the withdrawals over their lifetime.
Consult your professional advisor concerning your tax plans.
| During Lifetime | In Estate Plan | |
| Vehicle | IRA | IRA, 401(k), 403(b) |
| Maximum | $100,000/yr | Unlimited |
| Beneficiary | Any US-based charity | Any US-based charity or donor-advised fund |
| Tax Exemptions | Income tax | Income tax, estate tax |
| Process | Rollover directly from IRA | Name charity as designated beneficiary |
| Required Paperwork | IRA rollover form | Beneficiary designation form |
| Age Restrictions | Must be 70 ½ or older | None |
| Gift Timing | Immediately | At your passing |
Consider this example:
Mr. Cohen passes away and his 2 sons are the named beneficiaries of his $150,000 IRA. The sons must withdraw the entire amount within 10 years, which means they will pay about $50,000 in income tax. In this scenario, the $150,000 asset is only worth $100,000. Had Mr. Cohen named a charity as the beneficiary of the IRA, the charity would have received the entire $150,000. Mr. Cohen could then leave his other, tax-free assets to his sons.
OPEN A DONOR-ADVISED FUND WITH THE JEWISH FOUNDATION
Think of a donor-advised fund as your charitable bank account. When you contribute cash or securities to your DAF, you are eligible to take an immediate tax deduction. Those funds can be invested for tax-free growth, and you can recommend grants to any IRS-qualified public charity over time.
1
Establish a special charitable fund in your name with the Jewish Foundation.
2
Contribute cash or appreciated securities.
3
Foundation sells the assets and credits your fund with the sale proceeds.
4
You receive a tax receipt for charitable deduction purposes—no capital gains taxes are payable.
5
The proceeds are invested and continue to work for you, tax free.
6
Request distribution to qualified charities—at your convenience.