Ways to Give to the Temple Solel Endowment Foundation

Cash gifts are, of course, always greatly appreciated by the Foundation, but there are otherways to give that can provide you with the satisfaction of supporting the Foundation’s purposewhile at the same time affording you additional tax savings.

Appreciated Stock: The transfer of appreciated stock from your brokerage account to the Foundation allows you to help sustain Temple Solel while avoiding capital gains tax on the appreciated amount. When you transfer appreciated stock held for more than one year, you may be able to deduct the full current value of the stock as a charitable donation without incurring a tax liability for the appreciated amount.

Donor Advised Funds: Since the Foundation is a recognized charitable organization, you may support it by making a grant to it from your donor advised fund. Qualified Charitable Contributions: Taxpayers who are 73 and older must take Required Minimum Distributions (RMDs) from their retirement accounts. RMDs are included in, and taxed as part of, the taxpayer’s annual income. This increased annual income can affect Medicare premiums and eliminate or reduce other potential deductions. However, if the RMD takes the form of a donation to a qualified charity, this Qualified Charitable Deduction (QCD) will count as an RMD withdrawal without being included in your annual income for tax purposes. The key here, however, is that the financial institution administering your retirement account must send a wire transfer or check directly to the Endowment Foundation. They can indicate that it is at your instruction, so the Foundation knows whom to thank, but it must come directly from the financial institution.

A QCD is also a benefit for a taxpayer who does not itemize (that is, uses the standard deduction) and so cannot take a charitable contribution deduction.  A QCD is, in effect, an indirect way to get the same benefit.  By means of the QCD, you can support Temple Solel while benefiting indirectly from your generosity. Also, starting in 2026, certain taxpayers who itemize may have to reduce their total charitable contribution deduction by 0.5% of their Adjusted Gross income. The QCD option could mitigate that.

Legacy Gifts: You can designate the Foundation as a beneficiary in your will or trust. Additionally, you may name the Foundation as a beneficiary of some or all of a retirement account upon your death. Speak to your attorney about these options.

Note: Consult your tax advisor to confirm how the suggestions above would affect you.