Contributions to individuals in need, local and national charitable institutions and other philanthropies, are traditional ways of meeting the mitzvah of tzedaka (righteousness). As Jews, we have an obligation to establish justice by being righteous, upright and compassionate and, above all, by helping others. Jews throughout the ages, have been making contributions to Temples in recognition of such special events as holidays, bar or bat mitzvahs, birthdays, weddings/anniversaries, recovery from accidents or illnesses, honoring the deceased or other occasions.
Temple Sinai encourages the gifting of funds to support the Temple and its community. The following gifting categories may be helpful to you in your charitable contribution decisions and/ or in your estate planning strategies:
Gifts in Tribute
Donations may be made to Temple Sinai to honor any occasion for a relative, friend, caregiver or other loved one. For example, a memorial gift is a way to honor loved ones that have passed on. The names of those honored are published in the Temple Sinai Newsletter, “The Tablet”. Gifts may, if desired, be directed toward youth programs, adult education, building improvements or any aspect of Temple Sinai.
Should you desire to leave a part of your estate as a gift to Temple Sinai, there are a number of different types of bequest that can be made. Your will might include outright bequests; bequest of a residuary estate or the establishment of a testamentary trust which would provide for an income in perpetuity to Temple Sinai. This type of bequest should be discussed with your attorney.
There are a number of different types of trust that can be set up in order to leave a portion of your estate as a gift to Temple Sinai. In some cases these trusts will yield a current income tax deduction and could possibly realize an estate tax reduction as well. For more information, consult your estate planner, lawyer or accountant.
Gifts of Appreciated Property
Appreciated securities which you own may be donated to a charitable organization such as Temple Sinai which will provide you with significant tax savings such as the capital gains tax. Consult your accountant or tax planner for more information.
Local Community Foundations
Community foundations are organizations that fund charitable programs by combining individual gifts into a single permanent endowment. They are headquartered in and serve a specific community. These foundations offer donors extraordinary flexibility as well as the opportunity to simplify their charitable giving. Please call Temple Sinai for further information on Community foundations associated with Saratoga Springs.
Most of the charitable activities mentioned above will provide the donor tax advantages. This should be explored by each individual with his or her tax professional.
Call Temple Sinai at (518) 584-8730 for more information on charitable contributions.