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What is Planned Giving?

Planned Giving, also known as gift planning, can be very simple or extremely sophisticated.  How easy or complicated your planned gift is depends on what you are trying to accomplish. 

 


Planned giving provides you with the opportunity to make larger gifts than you may be able to make from your annual income to qualified non-profit organizations.  While some planned gifts provide a life-long income to you or someone you designate, others use estate and tax planning techniques to provide for charity and other heirs in ways that maximize the gift and/or minimize its impact on one's estate.

 


Planned gifts are in contrast to annual fund donations which are made from one’s annual discretionary income.

 


Whether you use cash, appreciated securities/stock, real estate, artwork, life insurance, a retirement plan, or other assets, the benefits of funding a planned gift can make this type of charitable giving very attractive to both donor and charity.

The simplest of all planned gifts is a bequest.  Many people discuss this the first time they go to their legal advisor to create their will or estate plan.  In addition to what you may be leaving to family and friends, many of us choose to remember those organizations, including our synagogue, in their will.  A bequest of a set amount or a percentage of one’s estate, can be a wonderful way to help ensure that those institutions about which we care continue on a strong financial footing. By informing the Jewish Community Foundation (JCF) that you have remembered the Foundation in your estate plan automatically makes you a member of our Legacy Society.  This holds true for many other organizations, both locally and nationally.

 

Another form of a bequest employed today is leaving all or a percentage of one’s IRA assets to charity.  Many people have multiple IRA or retirement assets accounts.  Charitable beneficiaries are easily added to the account and at the time of the dissolution of your retirement account the funds can be transferred to the named charitable organizations.  
Remember, no matter the amount of your gift, a bequest provides you with an opportunity to let an organization or synagogue know that they were meaningful to you during your lifetime.

For further information regarding planned gifts at the Jewish Community Foundation, please call Hollis Dorman, Senior Development Officer, at 860-523-7460 or email Hollis. 

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