It’s hard to believe, but the year is beginning to draw to a close. As it does—and particularly this year, in the times we are facing both here in and in Israel—I’m thinking about the causes that are close to my heart and the charitable giving I want to accomplish before December 31. And it’s not just what I’d love to support, but also about what I can afford given the markets and my taxes. As NIF’s VP of Finance, but also as a fellow NIF supporter, I want to share a few ideas I’ve gathered to help make the most of end-of-year giving—tax-wise tips to support the New Israel Fund and all of the other causes that help strengthen and sustain equality and justice in our world.
IRA Qualified Charitable Distributions (QCDs)
One of the easiest ways to make taxwise gifts to NIF is by making a QCD from your IRA. Under the rules, if you are over 70½ years of age, you can make up to $100,000 in annual gifts to NIF from an IRA if the distribution is made directly from your IRA administrator or a dedicated IRA checking account. You could use those funds for an annual gift or to set up a named endowment at NIF. The distribution counts towards your required minimum distribution (RMD) but avoids taxes on it. For more information about the benefits of giving from your IRA, click here. If you have questions or need assistance—or if you would like to talk over some options for planned giving to NIF—contact Becky Buckwald, our Chief Planned Giving Officer.
NIF’s Donor Advised Fund: The Progressive Jewish Fund
If you have appreciated stock, or are selling a business or real estate, you can receive a charitable tax deduction and also bypass capital gains taxes by contributing these types of non-cash assets to open a donor advised fund (DAF) with our Progressive Jewish Fund, the only national, progressive Jewish DAF program. A DAF can be opened with $5,000 of assets, and you’ll have the convenience of making grants to either/both U.S. and Israel-based charities in one place, online, 24/7, at your leisure. If you would like to join this growing community of individuals and families who wish to amplify progressive voices and conduct their philanthropy through a values-aligned organization, please contact us at pjf@nif.org.
Gifts of Stock to the Annual Campaign or to Start an Endowment Fund
Whether or not you’re opening a DAF at NIF, donations of stock are always a wise choice for charitable giving. If you itemize your tax returns, gifts of securities entitle you to a federal income tax charitable deduction, and you won’t pay capital gains tax. For more information and instructions on how to make a stock transfer to NIF, click here.
Sincerely yours,
Jennifer Spitzer
VP of Finance, Operations, & Administration
Jen Spitzer (L) and Becky Buckwald (R)