Current tax and other laws create many significant incentives and other benefits that minimize the true financial cost of giving to charity. Using properly structured charitable giving techniques, giving a dollar to charity does not necessarily mean taking a dollar from your pocket.
Excellent synagogue financial management has consistently enabled the synagogue to meet the ordinary ongoing needs of our diverse community of members within the financial constraints of the synagogue's annual operating budget. However, living year to year is not the best way for a synagogue of our size and scope to comfortably continue to meet the needs of its members.
It would be highly beneficial to begin to establish an endowment that would ensure T.I.C.'s strength and vitality for generations to come. Establishing an institutional endowment is not something that we could (or should) expect to accomplish overnight. In addition, it is not something that should require financial hardship, sacrifice or pain.
Charitable Lead and Charitable Remainder Trusts, Charitable Gift Annuities, gifts of appreciated securities, bequests of certain types of tax deferred retirement plans and numerous other techniques can enable T.I.C. members to leverage their charitable dollars while minimizing any financial hardship. With the proper thought and planning, together we can build an endowment incrementally over many years.
Please contact Ellen Salant, President, Temple Israel Center, for more information about charitable giving opportunities.