There are many ways to leave a legacy. Planned gifts come in a variety of forms, many of which can provide financial benefits to their donors. Speak with your attorney or financial advisor to determine if one or more of the following types of planned gift options may be right for you.
For more information on planned giving opportunities at The Mandel Jewish Community Center of Cleveland, please contact Traci Felder, Development Director, at (216) 831-0700 ext. 1496 or email@example.com.
Gifts Made Through Your Will
These are gifts made from your estate, after your death, as a result of provisions in your will. With charitable bequests, you can preserve assets during your lifetime and make gifts to the Mandel JCC only after you have provided for loved ones and yourself.
Gifts of Real Estate
Gifts of real estate can provide tremendous support to the Mandel JCC while entitling donors to a charitable income tax deduction for the fair market value of the property on the date of gift. Also, any appreciation in the value above the donor's cost basis avoids capital gains taxes.
Gifts of Appreciated Securities
Gifts to the Mandel JCC of appreciated securities held more than one year, most often common stocks, entitle the donor to a charitable income tax deduction for the fair market value of the securities on the date of gift. Additionally, you avoid capital gains taxes that would otherwise be due on the appreciation if you sold the security.
Charitable Remainder Trusts
Charitable remainder trust gifts to the Mandel JCC can be funded with cash, appreciated securities or certain other assets. Charitable remainder trusts are tax-exempt, therefore appreciated assets transferred to the trust can then be sold without triggering capital gains taxes. The funding of a charitable remainder trust entitles you to a charitable income tax deduction for a portion of the fair market value of the gift assets. Because these assets are removed from your estate and, to the extent your estate is taxable, you can avoid estate taxes.
Charitable Gift Annuities
Gift annuities may be particularly attractive to donors with highly appreciated, low-yielding assets who want to increase the cash flow from their investments and avoid or defer capital gains taxes. Gift annuities involve a transfer of cash, appreciated securities or certain other assets to the JCC in exchange for our commitment to make periodic payments to you and/or a designated income beneficiary for life.
Charitable Lead Trusts
With a charitable lead trust, donors transfer assets to the trust and establish a fixed amount or annual percentage that is paid to the Mandel JCC for a term of years. After this term, the trust directs that the remainder be paid back to the donor, or the donor's children or grandchildren. This provides an opportunity to support the Mandel JCC and subsequently transfer significant assets to family members with little or no tax liability or no gift tax.
Retirement Account Assets
By giving retirement account assets as gifts to the Mandel JCC, donors avoid both income and estate taxes that would otherwise be due at the time of death. Other less heavily taxed assets are then available to fulfill bequests to loved ones, who as a result, receive more after tax.
Gifts of Life Insurance
Sometimes, people no longer need the life insurance they purchased to protect a growing family. Perhaps, over the years, they accumulated the assets necessary to meet the financial demands of raising and educating children and funding a secure retirement. In these instances, their cash value life insurance policies may make a sensible charitable gift to The J. Continued premiums are tax deductible.
For more information on planned giving opportunities at The Mandel Jewish Community Center of Cleveland, please contact:
Traci Felder, Development Director
(216) 831-0700 ext. 1496