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Other Ways to Give

Here are several ways you can help Temple Beth David thrive and continue to serve the Jewish community for generations to come.

Fund Your Donation with a Gift in Your Will

An Example of How It Works

Meet Tom and Martha. When they got married and created a will, they included a $75,000 gift to Temple Beth David. As the family grew to include three children, Tom and Martha decided to revise their gift to ensure their children’s future financial security.

They met with their attorney and revised the gift language so that Temple Beth David received a percentage of their estate, instead of a specific amount. Tom and Martha now rest easy knowing their plans will provide for the people and charitable work they love.

Next Steps

  1. Contact Temple Beth David at (770) 978-3916 or president@templebethdavid.info for additional information on bequests or to chat more about the different options for including Temple Beth David in your will or estate plan.
  2. Seek the advice of your financial or legal advisor.
  3. If you include Temple Beth David in your plans, please use our legal name and federal ID#58-1558972.
     

Legal Name: Temple Beth David
Address: 1885 McGee Road, Snellville, GA 30078
Federal ID Number:  58-1558972

Consider Some Optional Financial Resources

Not everyone wants to commit to making a gift in their will or estate. Some prefer the increased flexibility that a beneficiary designation provides by using:

  • IRAs and retirement plans
  • Life insurance policies
  • Commercial annuities

It only takes three simple steps to make this type of gift. Here’s how to name Temple Beth David as a beneficiary:

  1. Contact your retirement plan administrator, insurance company, bank or financial institution for a change-of-beneficiary form.
  2. Decide what percentage (1 to 100) you would like us to receive and name us, along with the percentage you choose, on the beneficiary form.
  3. Return the completed form to your plan administrator, insurance company, bank or financial institution.

The Advantages of a Charitable Remainder Trust

If you have built a sizeable estate and are looking for ways to receive reliable payments, consider a charitable remainder trust.

These types of gifts may offer you tax benefits and the option for income. There are two ways to receive payments and each has its own benefits:

  • The Annuity Trust pays you, each year, the same dollar amount you choose at the start. Your payments stay the same, regardless of fluctuations in trust investments.
  • The Unitrust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. The amount of your payments is redetermined annually. If the value of the trust increases, so do your payments. If the value decreases, however, so will your payments.

A Tax-Saving Way to Help Temple Beth David

Charitable Rollover Gift

If you are 70½ years old or older, you can take advantage of a simple way to support Temple Beth David and receive tax benefits in return. You can give up to $100,000 from your IRA directly to a qualified charity such as Temple Beth David without having to pay income taxes on the money.

This law has no expiration date so you are free to make annual gifts to Temple Beth David this year and well into the future.

Why Consider This Gift?

  • Your gift will be put to use today, allowing you to see the difference your donation is making.
  • You pay no income taxes on the gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your deductions.
  • If you are at least 70 ½ years old and you have not yet taken your required minimum distribution for the year, your IRA charitable rollover gift can satisfy all or part of that requirement.

Frequently Asked Questions


Q. I’ve already named Temple Beth David as the beneficiary of my IRA. What are the benefits if I make a gift now instead of after my lifetime?
A. By making a gift this year of up to $100,000 from your IRA, you can see your philanthropic dollars at work. You are jump-starting the legacy you would like to leave and giving yourself the joy of watching your philanthropy in action. Moreover, you can fulfill any outstanding pledge you may have made by transferring that amount from your IRA as long as it is $100,000 or less annually.


Q. I’m turning age 70½ in a few months. Can I make this gift now?
A. No. The legislation requires you to reach age 70½ before the date you make the gift.

Q. I have several retirement accounts—some are pensions and some are IRAs. Does it matter which retirement account I use?
A. Yes. Direct rollovers to a qualified charity can be made only from an IRA. Under certain circumstances, however, you may be able to roll assets from a pension, profit sharing, 401(k) or 403(b) plan into an IRA and then make the transfer from the IRA directly to Temple Beth David. To determine if a rollover to an IRA is available for your plan, speak with your plan administrator.

Q. Can my gift be used as my required minimum distribution under the law?
A. Yes, absolutely. If you have not yet taken your required minimum distribution, the IRA charitable rollover gift can satisfy all or part of that requirement. Contact your IRA custodian to complete the gift.

Q. When do I need to make my gift?
A. We must receive your gift by Dec. 31 for your donation to qualify this year.

Q. Do I need to give my entire IRA to be eligible for the tax benefits?
A. No. You can give any amount under this provision, as long as it is $100,000 or less annually. If your IRA is valued at more than $100,000, you can transfer a portion of it to fund a charitable gift.

Q. I have two charities I want to support. Can I give $100,000 from my IRA to each?
A. No. Under the law, you can give a maximum of $100,000. For example, you can give each organization $50,000 annually or any other combination that totals $100,000 or less. Any amount of more than $100,000 in one calendar year must be reported as taxable income.

Q. My spouse and I would like to give more than $100,000. How can we do that?
A. If you have a spouse (as defined by the IRS) who is 70½ or older and has an IRA, he or she can also give up to $100,000 from his or her IRA.

It is wise to consult with your tax professionals if you are contemplating a charitable gift under the extended law. Please feel free to contact Temple Beth David at (770) 978-3916 or president@templebethdavid.info with any questions you may have.

Using Appreciated Securities

When Sarah’s father passed away, she knew she wanted to do something that would establish a lasting legacy for him. She remembered that during his lifetime he was always praising Temple Beth David for its ability to be a center for Jewish life in Gwinnett County.  Sarah decided to make a gift to the Temple Beth David in her father’s name using appreciated securities. Not only will her father’s legacy live on at Temple Beth David thanks to the gift and a commemorative plaque, but Sarah also received a federal income tax charitable deduction (because she itemizes her taxes) and eliminated capital gains tax on the securities.

Next Steps

  1. Contact Temple Beth David at (770) 978-3916 or president@templebethdavid.info for additional information on creating a memorial gift at Temple Beth David.
  2. Seek the advice of your financial or legal advisor.
  3. If you make a memorial gift to Temple Beth David through your estate, please use our legal name and federal ID#58-1558972.
     

Legal Name: Temple Beth David
Address: 1885 McGee Road, Snellville, GA 30078
Federal ID Number:  58-1558972

Transforming Realty to Gift Reality

Want to make a big gift to Temple Beth David without touching your bank account? Consider giving us real estate. Such a generous gift helps us continue our work for years to come and a gift of real estate also helps you. When you give us appreciated property you have held longer than one year, you qualify for a federal income tax charitable deduction. This eliminates capital gains tax. Plus you no longer have to deal with that property’s maintenance costs, property taxes or insurance.    Another benefit: You don’t have to hassle with selling the real estate. You can deed the property directly to Temple Beth David or ask your attorney to add a few sentences in your will or trust agreement.

Ways to Give Real Estate

You can give real estate to Temple Beth David in the following ways:

An outright gift:

When you make a gift today of real estate you have owned longer than one year, you qualify for a federal income tax charitable deduction equal to the property’s full fair market value. This deduction lets you reduce the cost of making the gift and frees cash that otherwise would have been used to pay taxes. By donating the property to us, you also eliminate capital gains tax on its appreciation.

A gift in your will or living trust:

A gift of real estate through your will or living trust allows you the flexibility to change your mind and the potential to support our work with a larger gift than you could during your lifetime. In as little as one sentence or two, you can ensure that your support for Temple Beth David continues after your lifetime.

A retained life estate:

Perhaps you like the tax advantages a gift of real estate to our organization would offer, but you want to continue living in your personal residence for your lifetime. You can transfer your personal residence or farm to Temple Beth David but keep the right to occupy (or rent out) the home for the rest of your life. You continue to pay real estate taxes, maintenance fees and insurance on the property. Even though Temple Beth David would not actually take possession of the residence until after your lifetime, since your gift cannot be revoked, you qualify for a federal income tax charitable deduction for a portion of your home’s value.

A charitable remainder unitrust:

You can contribute any type of appreciated real estate you’ve owned for more than one year, provided it’s unmortgaged, in exchange for an income stream for life or a term of up to 20 years. The donated property may be a residence (a personal residence must be vacant upon contribution), undeveloped land, a farm or commercial property. Real estate works well with only certain variations of charitable remainder trusts. Your estate planning attorney, who will draft your trust, can give you more details.

A charitable lead trust:

This gift can be a wonderful way for you to benefit Temple Beth David and simultaneously transfer appreciated real estate to your family tax-free. You should consider funding the charitable lead trust with real estate that is income-producing and expected to increase in value over the term of the trust.

A memorial or endowed gift:

A gift of real estate may be a perfect way to honor your loved one in perpetuity. When you make an endowed gift of real estate, your contribution is invested in and becomes part of our endowment. An annual distribution is made for the purpose you designate. Because the principal remains intact, the fund will generate support in perpetuity.

An Example of How It Works

Janet purchased a rental property years ago and has watched it grow steadily in value. Still active in her career and traveling frequently, she’s beginning to find management of the property more and more of a hassle. At this stage of her life, Janet has decided to move to a 55+ condominium development, where all exterior maintenance is provided and she doesn’t have to worry about security issues. Janet sees this as an opportunity to give her rental property to a charity that’s important to her while realizing valuable tax benefits.

Janet avoids capital gains tax on the appreciation and qualifies for a federal income tax charitable deduction of $250,000, which is the property’s fair market value today. She is able to claim 30 percent of her $200,000 adjusted gross income, or $60,000, in the year of the gift. In the five years following, she can continue to use up the remaining $190,000 deduction. Janet is happy in her new condo and loves knowing that the gift of her property will make a big difference supporting the Jewish community today and tomorrow.

Next Steps

  1. Contact Temple Beth David at (770) 978-3916 or president@templebethdavid.info to discuss the possibility of giving real estate to Temple Beth David.
  2. Seek the advice of your financial or legal advisor to make sure this gift fits your goals.
  3. If you include Temple Beth David in your plans, please use our legal name and federal ID#58-1558972.

Legal Name: Temple Beth David
Address: 1885 McGee Road, Snellville, GA 30078
Federal ID Number:  58-1558972

The Power of an Endowed Gift to Temple Beth David

An endowment gift to Temple Beth David today provides a brighter picture for our future. When you make a donation to our endowment, you give a gift with both immediate and long-term benefits.

Endowment donations are invested. A portion of the annual income from the investment is used to address immediate needs at Temple Beth David. The remaining funds are reinvested to ensure indefinite support.

Fund Your Donation With:

An Example of How It Works:
Longtime supporters Susan and Sam have two goals: First, they want to make sure Temple Beth David continues to receive support after they’re gone. Second, they want to memorialize Sam’s parents, Mr. and Mrs. Goldstein.

Susan and Sam make a $25,000 donation to Temple Beth David, which we invest, and each year, a portion of the income from the invested money will be used to support our mission in honor of the Goldsteins.  Plus, Susan and Sam qualify for a federal income tax charitable deduction on their taxes.

Next Steps

1.    Contact Temple Beth David at (770) 978-3916 or president@templebethdavid.info to discuss endowed gifts.
2.    Seek the advice of your financial or legal advisor.
3.    If you include Temple Beth David in your plans, please use our legal name and federal ID#58-1558972.

Legal Name: Temple Beth David
Address: 1885 McGee Road, Snellville, GA 30078
Federal ID Number:  58-1558972

Helping Your Family and Temple Beth David Simultaneously

George would like to support Temple Beth David and provide for his children and grandchildren. George received a windfall amount of income and needs a large income tax deduction to offset the income. Following his advisor’s recommendation, George funds a grantor charitable lead annuity trust with assets valued at $1,000,000.

George’s trust pays $70,000 (7 percent of the initial fair market value) to Temple Beth David each year for 15 years, which will total $1,050,000. After that, the balance in the trust reverts to George. He receives an income tax charitable deduction of $854,311. Assuming the trust earns an average 6 percent annual rate of return, George receives approximately $767,240 at the end of the trust term.

*Assuming annual payments and a 3.2 percent charitable midterm federal rate.

Next Steps
1.    Contact Temple Beth David at (770) 978-3916 or president@templebethdavid.info to talk about supporting Temple Beth David by setting up a charitable lead trust.
2.    Seek the advice of your financial or legal advisor.
3.    If you include Temple Beth David in your plans, please use our legal name and federal ID #58-1558972.

Legal Name: Temple Beth David
Address: 1885 McGee Road, Snellville, GA 30078
Federal ID Number:  58-1558972

For Professional Advisors

In your work as a professional advisor, you value integrity and honesty, taking the utmost care when serving your clients. As a religious institution, we share your values and take the same care when it comes to helping our donors plan charitable gifts to Temple Beth David. Please use these tools as you help your clients with their charitable plans, and feel free to contact us (president@templebethdavid.info) for more information or assistance.

Legal name: Temple Beth David
Federal ID Number:  #58-1558972
Located at: 1885 McGee Road, Snellville, GA 30078

Partner With Us

We understand that gifts to charities such as Temple Beth David can be an important part of your clients’ overall financial and estate plans. That’s why we’re committed to working with you to ensure that your clients find the charitable arrangements that best meet their needs. We believe that charitable planning is a process that ideally involves the donor, professional advisors and our gift planning experts all working together to arrange the best gift possible.

Bequest Language

The language in your will to establish a bequest for Temple Beth David will depend upon the type of gift and your personal charitable and financial goals. Because every will is unique, we encourage you to seek the advice of a qualified attorney.

You may specify that Temple Beth David receive a certain dollar amount, a specific percentage of your estate, or its remainder, or a particular asset. If you already have a valid, up-to-date will, your attorney can add, “Temple Beth David, Inc., located in Snellville, Georgia,” through a codicil. It is our sincere hope that these sample provisions will be helpful to your legal adviser.

Sample Bequest Clauses

Unrestricted Gifts
“I give and bequeath the sum of _________ dollars (or stated percentage of estate or remainder) to Temple Beth David, a non-profit corporation located in Snellville, Georgia, for its general purposes.”

Gifts for Endowment or a Specific Purpose
“I give and bequeath the sum of _________ dollars (or stated percentage of estate or remainder) to Temple Beth David, Inc., a non-profit corporation located in Snellville, Georgia, to be used for endowment (or indicate a program area).” (See “Maximizing Your Gift”.)

Gift of Residuary Estate
“I give, devise, and bequeath the remaining balance of my estate, after all specific bequests and devises have been satisfied, to Temple Beth David, Inc., a non-profit corporation located in Snellville, Georgia, for its general purposes.”

Contingent Gift of Residuary Estate
“I give and bequeath to _____________ (named individual), the sum of ________ dollar, if he/she survives me. If ______________ (named individual) does not survive me, I give and bequeath said amount to Temple Beth David, Inc., a non-profit corporation located in Snellville, Georgia, for its general purposes.”

Provision for Providing for a Charitable Pledge
Any unpaid charitable pledges, whether such pledges are legally enforceable or not, shall be paid out of my estate as soon as practicable. It is important to keep records that will enable an executor to ascertain the amount of any gifts made to Temple Beth David from the date of the pledge to the date of death.

In addition to making gifts of cash in the form of a specific amount or percentage, you may also opt to bequeath the following types of property to Temple Beth David:

  • Stock or other intangible personal property, such as royalties
  • Real estate
  • Personal property (art, antiques, etc….)

Maximizing Your Gift

Temple Beth David encourages donors to create bequests of a general nature. Please keep in mind that the needs of the community change over time, and your bequests to a specific purpose may not be applicable when your commitment is realized.

If you do wish to name a specific purpose for your gift, please consider identifying an alternative general program area, such as Rabbi Discretionary Fund, Children’s education in our Sunday School or to our Social Justice Program to receive the funds from your estate or as a backup to your primary designation.

Become a Temple Beth David Visionary and make a sustaining impact on our education and religious offerings. You’ll join a special group of dedicated donors who give on a monthly or quarterly basis.

Benefits:

  • Your steady support allows us to budget more effectively – bringing the joy of Judaism to even more people.
  • It’s easy on your wallet.
  • We’ll send you an end-of-year receipt making it easy to claim your tax deduction.
  • Most importantly, your generosity will support important projects including Jewish Community Outreach, Education and Religious services.

We invite you to join so many others in supporting Our Life-Changing Work

Temple Beth David is committed to being a trustworthy steward of your generous contributions.

Thank you for considering a major gift to Temple Beth David. A gift or pledge of $25,000 or more within a year qualifies as a major gift. We invite you to review the Synagogue’s wide scope of work and find affinity with a particular initiative.

You Will Make a Substantial Impact

  • Your gift will contribute to the longevity and sustainability of Temple Beth David’s work throughout the Greater Atlanta area and beyond.
  • Your gift will allow us to undertake new initiatives and expand existing programs.

 

State Nonprofit Disclosure:
Georgia: A full and fair description of our programs and our financial statement summary is available upon request at our office.

Mon, July 26 2021 17 Av 5781