Planned giving, sometimes referred to as gift planning, is a way anyone can support the JCC today, and in the future. By definition, a planned gift is any typically larger gift, made in one’s lifetime or at death, as part of a donor’s overall financial and/or estate planning. Some planned gifts provide a life-long income to you, the donor. Others use estate and tax planning techniques to provide for charity and your heirs in ways that maximize the gift and/or minimize its impact on your estate. Whether you use cash, appreciated securities/stock, real estate, artwork, partnership interests, personal property, life insurance, a retirement plan, etc., the benefits of funding a planned gift can make this type of charitable giving very attractive to both you and the JCC.
How a planned gift is different from an Annual Fund gift
Gifts to our annual fund or for membership dues are made from your discretionary income. They may be budgeted for, but they are not planned by philanthropic definition
Three types of planned gifts
- Outright gifts that use appreciated assets as a substitute for cash
- Gifts that return income or other financial benefits to you in return for your contribution
- Gifts payable upon a donor’s death
Benefits of making a planned gift to the JCC of Greater Buffalo
- In conjunction with the Foundation for Jewish Philanthropies we have provided you with the opportunity to save current taxes, obtain rates of interest unavailable from traditional fixed income investments and to receive recognition as a supporter and sustainer of the JCC and the community.
- Programs, facilities or other items can be named in honor of or in memory of anyone you may wish to designate.
- Gifts of cash or appreciated securities through the Foundation can help you avoid current taxes and provide you with lifetime benefits and the JCC with income to support programs which you designate.
- You can contribute appreciated property, like securities or real estate, receive a charitable deduction for the full market value of the asset, and pay no capital gains tax on the transfer.
- You can establish a life-income gift receive a tax deduction for the full, fair market value of the assets contributed, minus the present value of the income interest retained; if you fund your gift with appreciated property, you will pay no upfront capital gains tax on the transfer.
- Gifts payable to the JCC of Greater Buffalo upon a donor’s death, like a bequest or a beneficiary designation in a life insurance policy or retirement account, do not generate a lifetime income tax deduction for the donor, but they are exempt from estate tax.