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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DESIGNATED/ RESTRICTED FUNDS FOR SYNAGOGUES, AGENCIES AND OTHER ORGANIZATIONS 

With the Jewish Foundation, you can establish a named Restricted/Designated Fund for your synagogue, for Jewish education, for the needy, for Israel, for the arts, or for any charitable program or organization that is important to you.

These funds can be established in honor of a family member, or in memory of loved ones, and will provide annual distributions, in perpetuity, to the designated organization(s). The Jewish Foundation will make annual distributions to the designated charitable organization and, in the fund agreement,  you can provide for a contingent beneficiary organization should the designated organization cease to exist, lose its tax-exempt status or substantially alter its mission.  Restricted/Designated Funds can be established with a minimum gift of $10,000.

PACE (PERPETUAL ANNUAL CAMPAIGN ENDOWMENT) AND LOJE (LION OF JUDAH ENDOWMENT)  

ENDOWING YOUR JEWISH FEDERATION ANNUAL CAMPAIGN GIFT Designated/Restricted Funds for the benefit of the Jewish Federation’s Annual Campaign are called “PACE” (Perpetual Annual Campaign Endowment) or “LOJE” (Lion of Judah Endowment).

A PACE fund is a designated/restricted fund which endows a donor’s UJA-Federation annual campaign gift. A LOJE fund is a type of PACE fund which provides a permanent endowment to perpetuate a woman’s annual Lion of Judah campaign gift.

PACE and LOJE funds allow our community, through permanent endowment funds dedicated to the Jewish Federation Annual Campaign, to insure that we have funds available that will continue to provide for vital programs and services both in Greater New Haven, in Israel and overseas… for present and future generations.

A named PACE fund can be established with a minimum commitment of $10,000 or a LOJE fund with a minimum commitment of $100,000. Commitments of under $10,000 are pooled together in the Jewish Foundation of Greater New Haven’s Community PACE Fund.

DONOR ADVISED/PHILANTHROPIC FUNDS  

DONOR ADVISED/PHILANTHROPIC FUNDS For individuals and families seeking active involvement in philanthropy, a Philanthropic Fund (also called a donor-advised fund) allows the donor to create a named fund that provides flexibility in charitable giving. A Philanthropic Fund allows the donor to recommend distributions to any qualified tax-exempt organization-think of it as a charitable checking account. The Foundation administers the fund, invests the assets, and the donor receives quarterly statements describing their fund’s activity. These funds are a wonderful way to involve the family in giving---the donor and his/her family can sit around the dinner table and decide to which charitable organizations they want their fund to distribute. These funds can be established with a minimum gift of $10,000.

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YOUTH PHILANTHROPY AND BUILD A TZEDAKAH FUNDS  

The Foundation administers and promotes the Build a Tzedakah program which enables young adults to establish their own Foundation endowment fund and also, in conjunction with the Center for Jewish Life and Learning, includes local programs, classes and projects on philanthropy.

The Build-a-Tzedakah program allows young adults to engage in charitable giving by contributing $600 from their Bar or Bat Mitzvah gifts, with a match of $400 from a community donor. With this, the young adult now has a $1000 named charitable fund at the Jewish Foundation—they, or others, can add to the fund at anytime and in honor of special occasions- and, every December (Hannukah time), they will be given the opportunity to choose to which charity(ies) they want to make a distribution (distributions are based on the Jewish Foundation’s spending policy and must follow IRS regulations which include that they must be charitable and can only be made to US based public charities).

OVER THE PAST TEN YEARS, BUILD A TZEDAKAH FUNDS HAVE DISTRIBUTED OVER $40,000 TO MORE THAN 60 ORGANIZATIONS!

As part of its Build a Tzedakah program, the Jewish Foundation of Greater New Haven held a Pop-up Jewish teen giving circle. The teens, part of JTE (Jewish Teen Education) program, invited local organizations to present concerning funding needs. The program included discussion of philanthropic values, why people give, and how to give. The Jewish Foundation provided monies to the teens for their allocation process. The teens awarded the following grants: IRIS (Integrated Refugee & Immigrant Services) for a teen civil rights travel program this summer; Jewish Family Service of Greater New Haven for their Stars of David program providing post-adoption social support to adopted Jewish teens; JCC of Greater New Haven for their Makerspace.

UNRESTRICTED FUNDS  

Individuals or families can establish a named Unrestricted Fund at the Jewish Foundation with a minimum donation of $1,000. Unrestricted Funds allow the Foundation to meet the changing needs of the Jewish community through our grants process and community initiatives. Many community members have established such funds in honor of a special anniversary or birthday, or in memory of a loved one.

FUND MANAGEMENT AND INVESTMENT OF SYNAGOGUE, AGENCY AND ORGANIZATION CUSTODIAL ACCOUNTS  

The Foundation’s professional staff and its centrality to the Jewish Federation insure continuous, permanent, and secure fund management and enhance donor confidence and prestige. In addition, placing endowment assets with the Jewish Foundation can serve to insulate financial management of an organization’s endowment from the vicissitudes that can occur through the organization’s own corporate governance. Many local Jewish organizations have entrusted endowments to the Jewish Foundation for administration and management--these include: The Jewish Cemetery Association of Greater New Haven, Congregation Beth Israel (Wallingford), Beth Israel (Orchard Street Shul)Cemetery Assocation, Congregation Mishkan Israel, Congregation Beth El-Keser Israel, Temple Beth David, Ezra Academy, the JCC, Jewish Family Service, Congregation Beth Shalom Rodfe Zedek, Congregation Or Shalom, Congregation B’nai Jacob and Temple Beth Tikvah.