Fourth Quarter 2013
By making a gift to the Jewish Community Foundation of Greater MetroWest, you are adding to the richness of our community, the strength of our people, and helping Jewish people across the globe. Please consider making a tribute gift to celebrate a loved one, adding to your Donor Advised Fund, or leaving a bequest to benefit the Jewish Federation of Greater MetroWest NJ after your lifetime. Just click “Donate now” to get started.
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Last Days of 2013 — a Year End Countdown
There are still 14 days to make a philanthropic gift in 2013. Not sure what to give, or what deadlines to consider? Here are some dates to remember:
1. Check. For tax reporting purposes, the official date of your contribution is the U.S. mail postmark. If you mail a check on December 31, you might want to request a receipt from the post office.
2. Stock. Appreciated stock makes for a wonderful charitable gift! You receive an income tax charitable deduction for the fair market value of your donation AND avoid capital gains taxes that would otherwise be due if you sold the stock yourself. For transfer instructions, please call Beverly at (973) 929-3063 or email bkestenbaum@jfedgmw.org. (To pay your UJA pledge with a gift of stock, please call Jean Cook at (973) 929-3007.)
3. Credit card. Yes, you can still charge your gift! Call (973) 929-3000 or visit www.jcfmetrowest.org before 12 noon on December 31. Save your receipt to take the charitable deduction in 2013.
4. Create a Charitable Gift Annuity (CGA). Lucky enough to be over 65? Consider creating a CGA, which will provide you with an income tax deduction in 2013, pay you or a designee a guaranteed annuity for life, and may reduce your exposure to estate taxes. And, your donation will help to support our Jewish community for future generations. Call (973) 929-3113 or click here to learn more.
5. Give from your IRA. In 2013, the law allows those over the age of 70 1/2 to make a charitable distribution from their IRA of up to $100,000. The transferred amount counts toward your required minimum distribution for the year, but the transfer must be made directly from the IRA to the organization. To learn more, read this article from the Wall Street Journal or call JCF at (973) 929-3113.
6. Art, Jewelry, or other tangible, non-liquid assets can help JCF and/or the UJA Campaign. Call (973) 929-3113 and JCF will work with you and your professional advisors.
7. Bonds and Mutual Funds. If they have appreciated in value they make great giving vehicles. However, they can be complicated to use for charitable contributions, so please call a member of the JCF professional team at (973) 929-3113 to learn more.
8. Donor Advised Funds (DAF). Want to reduce your tax burden but don’t know where to give? Establishing a DAF will give you a charitable tax deduction in 2013 and allow you to make recommendations from your Fund to worthy organizations for years to come.
DAF Guidelines | DAF Application
9. Charitable Lead Trust (CLT). Establishing a CLT will support JCF (or the UJA Campaign) for a set number of years, after which remaining assets will go to whomever you designate (children, grandchildren, etc.). CLTs can provide a highly leveraged gift to family members at substantially reduced gift tax cost. Call (973) 929-3113 to learn more.
10. Lester Society and Lion of Judah Endowment (LOJE). This can be the year you join the esteemed Lester Society, or become a LOJE. If you are ready to endow your gift to the UJA Campaign or Women’s Philanthropy, call Jessica Mehlman at (973) 929-3003.
The professionals at JCF are here to help you. We can be reached at (973) 929-3113, jcf@jfedgmw.org, or on our Facebook page: JCF Greater MetroWest. Thank you for your philanthropy, which strengthens our community.
Donor Advised Funds and Year End — a Sidduch (match) for sure
by Eileen Russ Heltzer, Development Officer
What goes together almost as well as latkes and applesauce? Why, end-of-year giving and Donor Advised Funds, of course!
In December of last year we were fortunate to work with several families interested in making charitable gifts to reduce their tax burden. Ultimately, while one or two simply made one-time gifts to their favorite charities, others chose to open a Donor Advised Fund (DAF) at the Jewish Community Foundation (JCF).
A DAF is a Fund, housed at and managed by JCF, that donors can name and from which they retain the right to make non-binding grant recommendations. Donors receive a tax benefit for contributions as they are deposited into the Fund, after which they can recommend grants to beloved organizations.
A DAF allows you to fulfill your philanthropic goals in a flexible, tax-efficient, and cost-effective manner. To see our Guidelines, click here. To speak with a JCF professional about creating a DAF, please call (973) 929-3113 or email jcf@jfedgmw.org.