Planned Giving

Thank you for giving to TBZ.

Any choice or method you select will provide vital support to TBZ, whether sustaining our clergy and professional staff, our synagogue building, our services and classes, our children and Beit Rabban… our TBZ community now and into the future.

IRA Contributions
If you have an IRA, did you know you can use it to contribute to TBZ and potentially save significant tax dollars? Under IRS regulations, people 70.5 and over can make tax-free gifts from their IRAs to their favorite charities – including TBZ! And if you turn 73 this year, the IRS requires you to take annual withdrawals called “required minimum distributions” (RMD). These IRA contributions are tax-free and comply with RMD rules, which will satisfy the IRS requirements. The amount you contribute will not be included in your adjusted gross income and offers many tax advantages, whether you take the standard deduction or itemize.

If you are over 70.5, or you just turned 73 and must begin taking your RMD, under current IRS regulations you can choose to make direct charitable gifts from your IRA (with a maximum of $105,000 per person) to public charities such as TBZ.

The SECURE 2.0 Act allows you to use your RMD to receive lifetime income based on your age. Called a QCD Legacy Charitable Gift Annuity, it can also be a great strategy that supports TBZ while also saving you thousands in taxes. Please consult your accountant.

Because of the tax advantages, your IRA is the optimal asset you should consider for your charitable donations. You should not take such distributions personally when you donate to TBZ from your IRA; please tell your IRA administrator to donate directly to TBZ on your behalf.

Gifts of Stock or Mutual Funds
If giving through your stock or mutual fund portfolio is preferable, please contact Benjamin Maron to get all the information your broker will require to transfer securities to TBZ’s Fidelity account. Please also let us know the name of the stock, number of shares, and intended date of transfer.

Please note: It is important that your broker does not sell the securities and send us a check. If the broker does this, the tax advantages of making a gift of appreciated stock may be eliminated.

Charitable Gift Annuity
If you’re looking to support TBZ while also feeling confident that you have dependable income in your retirement years, this might be the option for you. With a charitable gift annuity you agree to make a gift to TBZ and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life. The balance is used to support our work. This type of donation can provide you with regular payments for life and allow TBZ to further our mission. You can also qualify for a variety of tax benefits depending on how you fund your gift.

If you fund your gift annuity with cash or appreciated property, you qualify for a federal income tax deduction if you itemize. In addition, you can minimize capital gains taxes when you fund your gift with appreciated property.

You can also fund your gift using your IRA assets: If you are 70½ and older, you can make a one-time election of up to $54,000 to fund a gift annuity. While your gift does not qualify for an income tax deduction, it does escape income tax liability on the transfer and count toward all or part of your required minimum distributions.

Please consult your accountant and calculate your benefits to see if charitable gift annuity is the right option for you.

Estate Planning (Bequests)
A gift to TBZ in your will or revocable trust enables you to support us and make a difference – a lasting impact for future generations.

A bequest is easy to arrange, will not alter your current lifestyle, and can be easily modified to address any changing needs. While we offer sample language here, please consult your lawyer or estate planner.

• Specific Gift Language: Naming TBZ as a beneficiary of a specific amount from your estate is straightforward.
  “I give and devise to Temple Beth Zion, located in Brookline, MA, the sum of $_________ (or asset) to be used for its general support.”
• Residual Gift Language: A residual bequest comes to TBZ after your estate expenses and specific bequests are paid.
  “I give and devise to Temple Beth Zion, located in Brookline, MA, all (or state a percentage)
  of the rest, residue, and remainder of my estate, both real and personal, to be used for its
  general support.”
• Contingent Gift Language: TBZ can be named as a contingent beneficiary in your will or personal trust if one or more of your specific bequests cannot be fulfilled.
  “If (insert name) is not living at the time of my demise, I give and devise to Temple Beth Zion, located in Brookline, MA, the sum of $ _______ (or all or a percentage of the
  residue of my estate) to be used for its general support.”
• Retirement Plan Beneficiary Language: You may name TBZ as a beneficiary of your IRA or other qualified retirement benefits. Donors should consult with their tax advisor regarding the tax benefits of such gifts.

  Naming TBZ as the beneficiary of a qualified retirement plan asset such as a 401(k), 403(b), IRA, Keogh, or profit-sharing pension plan will accomplish a charitable goal while realizing significant tax savings. It can be costly to pass such assets on to heirs because of heavy tax consequences. By naming TBZ as a beneficiary of a retirement plan, the donor maintains complete control over the asset while living, but at the donor’s death the plan passes to support Northeastern free of both estate and income taxes.

  Making a charitable gift from your retirement plan is easy and should not cost you any attorney fees. Simply request a change-of-beneficiary form from your plan administrator. When you have finished, please return the form to your plan administrator and notify TBZ. We can also assist you with the proper language for your beneficiary designation to TBZ, if you wish.

TBZ (Temple Beth Zion) is a 501(c)(3) non-profit organization (EIN 02-2176002).