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What is planned or legacy giving?

Legacy giving expresses a donor’s personal values by integrating charitable, family, and financial goals as well as his/her vision for the future.

It is a form of Tzedakah, a generous act that makes a difference not only in one’s life, but in the lives of others, creating permanence and positively impacting upon the lives of future generations who will experience its benefits and know its source.

Maybe Temple Israel is already in your plans?  If so we'd like to acknowledge you!  Please let us know.

Why make a Legacy gift to Tinw?

A gift that is meaningful to you is the most special gift to TINW.

People make Planned or Legacy Gifts to TINW because it sustains an organization they care about:

  • Provides an opportunity to memorialize yourself or a loved one
  • Expresses appreciation to the synagogue that served you or your family
  • Meets a need of the community now and into the future
  • Reflects your Jewish values, religiously or culturally

Planned Giving Opportunities at TINW

Planned Giving provides you with an opportunity to make a larger and more impactful gift to Temple Israel of Northern Westchester (TINW) than you ever thought possible. Planned Gifts are typically the most significant gifts a person or family will ever make because they continue to work for TINW for many years into the future. 

Types of Legacy Gifts to consider:

  • Outright Donation
  • Bequests in a Will or Trust
  • Beneficiary Designations of Retirement or Insurance Policy
  • Qualified Charitable Distributions (QCD)/Charitable IRA Rollover
  • Charitable Gift Annuities
  • Charitable Remainder Trusts

Maximizing the impact of your gift

A planned gift is any major gift, made in lifetime or at death as part of a donor’s overall financial and/or estate planning. It enables philanthropic individuals to make larger gifts to charitable organizations than they could make from ordinary income.

Some planned gifts provide life-long income to donor. Other gift plans use estate and tax planning to provide for charity and heirs in ways that maximize the gift and/or minimize its impact on the donor’s estate.

Qualified Charitable Distribution (QCD) AKA Charitable IRA Rollover 

One way to support Temple Israel and simultaneously reduce your tax liability, is to make a gift from an IRA when you meet the following conditions.

  • Age 70.5 (or older)
  • Counts Toward Required Minimum Distribution
  • Direct Transfer to Charity
  • No Charitable Income Tax Deduction
  • Provide Immediate Funds to Charity
  • Helps Those Who:
  1. Want to Preserve Cash on Hand
  2. Don’t Itemize Deductions

Designate TINW as a beneficiary of your retirement plan or insurance policy

here’s how:

Existing Insurance Policy:  Contact the company that holds your retirement plan or life insurance policy. Let them know that you would like to update your beneficiaries, and they will send you a form. On the form you determined the percentage you would like to go to TINW. 

New Insurance Policy:  Another approach is to create an additional life insurance policy and name Temple Israel as the beneficiary. A new policy allows you to make a larger legacy gift than you may have considered or had the means to make. With low monthly tax-deductible payments on a new policy, you can turn your $500 a year into $50,000 when you are gone. 

Let us help you plan


TINW can help in all planning

We are always here to talk about your and your family’s needs and to make the appropriate introductions for any other pre-arrangements if desired.

Planned giving allows you to impact TINW’s future for years to come.  We can help you work out the specifics if you would like assistance. We’d love to help you!  Contact us directly via phone or email to discuss the planning or to schedule a time to talk in more detail.  Call us 914.271.4705 x121 or email us at treasurer@tinw.org.

SIMPLE WAYS TO INCLUDE TINW IN YOUR WILL
  • We can help by giving you some of the standard legal language to add into your will.
  • You work directly with your attorney to determine the precise wording that is added to your will.
  • You are in complete control of the percentage of assets or funds that are designated to TINW in your will.
  • Alternatively, you can identify a specific amount to leave to TINW in your will.
Sun, March 7 2021 23 Adar 5781