TIPS FOR YEAR END GIVING

What to do in order to ensure you can claim a charitable deduction for 2016:

  • For donations of cash (including checks), your donation must be either postmarked or personally delivered to the not-for-profit organization on or before December 31.
  • For donations of stock, your stock must be transferred out of your account on or before December 31.
  • For donations via credit card, your credit card donation must be processed on or before December 31.

Donating long-term appreciated securities can provide additional tax benefits

  • 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.

If you would like to make a donation of stock please contact Lisa Stanger, Executive Director of the Jewish Foundation (203-387-2424, x382; lstanger@jewishnewhaven.org) for the Foundation’s stock account information.

For example, 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 and you may claim a charitable income tax deduction for $10,000.

HOW DO GIFTS OF CASH AND SECURITIES COMPARE?

 Cash
Securities
Gift Amount $10,000$10,000
 Initial Cost Basis of Securities/Appreciation
 Not Applicable
$2000/$8000
 Capital Gains Tax Saved or Paid –
Assuming 20% Rate*
 Not Applicable
$1600
 Ordinary Income Tax Savings 
(35% tax bracket x value of gift)**
 $3,500 $3,500
 Net Tax Savings
(ordinary income + capital gain)
 $3,500 $5,100

*Please note: A different tax rate may apply to you and, accordingly, the charitable benefit you receive may vary. 

**Gifts of securities may be deductible up to 30% of your adjusted gross income, however, excess deductible amounts may be carried forward for five years. Please consult with your own professional to determine your specific situation.

Let's Start a Conversation

The Jewish Foundation can help you explore charitable opportunities that work for you. 

The Jewish Foundation is a trusted and expert resource for charitable gift planning and endowments and serves as a partner and resource for synagogues, local Jewish agencies, professional advisors and donors.

When you make a current gift or leave a bequest to the Jewish Foundation of Greater New Haven, you not only benefit our community, but you can also support the causes that are important to you.  You can designate that your gift be used to provide unrestricted funds to help meet community needs now and in the future or to endow a permanent fund to aid identified programs, your synagogue, agencies, organizations, or initiatives (Jewish or not Jewish, in Greater New Haven, Israel or beyond) that are of particular interest to you and your family.

Lisa Stanger, Esq., Executive Director
Tiberius Halai, Grants and Gift Manager
Beth Kupcho, Scholarship and Philanthropy Manager
Stephanie Licsak, Controller

Jewish Foundation of Greater New Haven
360 Amity Road
Woodbridge, CT 06525
203-387-2424, ext. 382
203-387-1818 (fax)
lstanger@jewishnewhaven.org
Jewishnewhaven.org

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