Current gifts to the endowment are fully tax deductible, subject to the Tax Code’s percentage limitations. You can give cash or securities. Contributing appreciated securities not only generates a charitable deduction but also permits you to avoid realizing a capital gain on the appreciation. If you would like to make a substantial gift but want to structure it to be paid over a number of years, you may make a charitable pledge. If you have established a private foundation or a donor-advised fund, please consider making a grant to the endowment from that source (but such a grant should not be used to satisfy a pledge).
Retained income gifts permit you to convert appreciated assets into an income stream during your lifetime without generating a current capital gains tax, and permit a current deduction for the charitable interest. At death, the remaining funds would be added to Falmouth Jewish Congregation’s endowment. Such a gift could take the form of a Charitable Remainder Trust or a Charitable Gift Annuity.
Estate planning is another opportunity to provide for the endowment. Consider adding a gift to the endowment in your will or revocable trust. It would provide a lasting legacy and also generate an estate tax deduction. You might also consider naming the endowment as a beneficiary of a portion of your IRA or qualified retirement plan—such a gift would pass free of both estate tax and income tax.
Members of the Endowment Committee would be pleased to speak with you or your advisors about options for tax-wise giving, and can provide language for properly designating the endowment in your estate plan.
For more information, please contact the office. A member of the Development Committee will contact you as soon as possible.