Popular tax-smart gifts
Many people are increasingly choosing to give non-cash assets, so they can have a bigger impact at less cost to them.
Stocks, securities, & mutual funds
Many people choose to give stocks, securities, or mutual funds instead of gifts of cash. Giving appreciated assets like these help you avoid paying capital gains taxes, and can give you an income tax deduction for the full value of the gift, if you’ve had the assets for more than one year.
Give appreciated assets now and enjoy the benefits, or add us as a beneficiary of these assets and eliminate estate and inheritance tax, making the most of your gift.
Benefits
- Gifts of assets can often save you far more on taxes than gifts of cash
- Avoid all capital gains taxes
- Receive an income tax deduction for the value of the assets (if you’ve had them for more than a year)
- Make an immediate impact on our mission
How it works
- Transfer appreciated securities directly to us (and avoid all capital gains taxes).
- Receive a tax receipt for the value of the assets.
- The securities are sold and the funds put directly to use for greatest impact.
Ask your broker to donate through:
Fidelity Investments
DTC number: 0226
ACCT name: Fund Evaluation Group
Tax ID#: 36-3411361
ACCT Number: 676-209466
Qualified Charitable Distributions from your IRA
A Qualified Charitable Distribution (QCD) is a tax-efficient way for individuals who are age 70 ½ or older to make gifts directly from their Individual Retirement Account (IRA). QCDs can count towards satisfying an individual’s Required Minimum Distribution (RMD) for the year, which is the minimum amount that an individual must withdraw from their IRA each year once they reach age 73.
Who it’s for
- Individuals 70 ½ or older
- Those who have an Individual Retirement Account (IRA) that is a traditional IRA, not a Roth IRA
- Those who want to make a charitable gift that counts towards their Required Minimum Distribution
- Those who want to reduce their taxable income
Benefits
- Reduce taxable income
- Counts towards your Required Minimum Distribution for the year
- Make an immediate impact on our mission
How it works
- Instruct your IRA custodian to distribute up to $105,000 directly to one or more eligible charities.
- The QCD counts towards your Required Minimum Distribution.
- The QCD is not included in your taxable income, which can reduce your overall tax liability. You will not receive a charitable income tax deduction for the QCD.
If you wish to make a Qualified Charitable Distribution, contact your IRA custodian to get started.
Donor-advised funds
A donor-advised fund (DAF) allows individuals to make charitable contributions and receive an immediate tax deduction. The funds are managed by a DAF custodian, and the donor can recommend grants to their preferred nonprofit organizations. Donors can contribute to the fund over time and recommend grants to charities at their discretion, providing flexibility in their giving strategy.
Benefits
- Retain the flexibility to make grant recommendations over time
- Receive an immediate tax deduction when contributing to your fund
- Make an immediate impact on our mission
Log in to your donor-advised fund account or contact your fund administrator to submit a grant request.
Submit your request to:
Sholom Foundation
Tax ID#: 36-3411361
If you choose to support our organization, please contact us to let us know to ensure that you are properly acknowledged and that your grant gets put to use as you intend.
Real estate
Who it’s for
- Those who own property that has appreciated in value and would result in a significant capital gains tax liability if sold
- Individuals wanting to simplify their estate planning and reduce their estate tax liability
- Those no longer using the property and want to avoid the expenses and hassles of owning and maintaining it
Benefits
- Reduce estate tax liability
- Eliminate ownership and maintenance expenses
- Make a significant charitable gift in support of our mission
How it works
- Contact us to let us know about your interest in donating real estate.
- Obtain an appraisal of the property to determine its fair market value. This will help you determine the amount of your charitable deduction for tax purposes.
- Work with us and your attorney to transfer the property ownership. This may involve executing a deed, transferring title, and completing any necessary legal or regulatory requirements.
- Claim your charitable deduction on your tax return for the year in which the donation is made.
Consult with a qualified estate planning attorney and tax professional to determine if this is the right option for you. Additionally, there are some restrictions on the types of property we can accept, so please contact us before you donate!
Add the gift of real estate in your will or trust
Potentially reduce estate taxes for your heirs while ensuring that the property is used for a charitable purpose and not subject to potential disputes or mismanagement in the future.
Retained life estate
A Retained Life Estate is a type of planned giving arrangement that allows an individual to donate their home or other real property to a charitable organization while retaining the right to live in the property for the rest of their life.
Who it’s for
- Those who own a home or other real property that they would like to donate to a charitable organization
- Those who want to make a significant charitable gift while also retaining the right to live in the property for the rest of their life
- Want to avoid the costs and complexities of transferring ownership of their property during their lifetime
Benefits
- Potentially receive a tax deduction for the value of the charitable gift
- Retain the right to live in the property
- Make a big impact on our mission
How it works
- Transfer ownership of the property to us, but retain the right to live in the property for the rest of your life.
- Continue responsibility for all maintenance, insurance, and property taxes on the property during your lifetime.
- If eligible, receive a tax deduction for the value of the charitable gift.
- When you pass away, we assume ownership of the property and can use it or sell it in support of our mission.
Consult with a qualified estate planning attorney and a financial advisor to determine if this is the right option for you.
Endowment, Legacy, and Planned Giving
Sholom is a vibrant, life-affirming, and inspirational community. Planned gifts of all types help Sholom residents and their families, across the Twin Cities, can Live Life Fully today and into the future. Members of Sholom’s Heritage Society embody Sholom’s commitment to Care, Compassion, and Community, ensuring our program can care for those who have so dearly cared for us.
We’re here to help you meet your goals!
Our team would be happy to speak with you in confidence about your giving goals, with no obligation.
Name: Noah Gerding
Title :EVP - Philanthropic and Community Relations
Phone: 952-939-1594
Email: ngerding@sholom.com
More ways to make an impact
Gifts that pay you back
Give assets while providing yourself or others with income for a period of time or distributions at a later date.
Gifts in a will or trust
Donations in your will or trust are (by far) the most popular type of planned gift. Learn more, or get help starting your will (for free!).
Beneficiary designations
Gifting assets not covered by your will — like 401(k) or IRA accounts — may help your heirs avoid unwanted taxes, even if you’re below the estate tax threshold.