Legacy Giving

This is the simplest form of legacy giving and only involves adding language to your will or estate plan to gift a certain amount or percentage of your assets to Schechter Boston after your lifetime. We are happy to share suggested bequest language with you and your financial advisor. Our Tax ID number is EIN 042-303-212 Here are some benefits of leaving a gift to a charitable organization:

• Tax benefits: Leaving a charitable contribution in your will can be a strategy for reducing your overall taxable estate. Your gift is fully deductible for federal estate tax purposes, and there is no limit on the deduction your estate can claim. In addition, the gift may be exempt from state estate taxes.

• Control: Your assets remain in your control during your lifetime.

• Flexibility: Like any bequest, charitable bequests can be modified at any time.

Here’s the process: Decide what type of bequest you’d like to make. Here are some options:

• Specific Bequest: A bequest of a specific dollar amount or a specific asset.

• Residual Bequest: A gift of a percentage of the balance or remainder of your estate. Your donation to charity is made with the remainder of your estate after your debts, expenses, and bequests have been paid.

A charitable gift annuity (CGA) is a gift that provides income during your lifetime, while also reducing your tax burden. You can fund an annuity that will make fixed annual payments to you—or up to two beneficiaries of your choosing—during your lifetime. The remainder then passes to Schechter Boston after the lifetime of the beneficiaries. Benefits of a charitable gift annuity:

• A reliable income stream for the rest of your life

• An immediate (partial) tax deduction, based on your life expectancy and the anticipated income stream

• Reduced or eliminated capital gains tax liability for gifts of appreciated securities

Here’s the process:

• Donate $10,000 or more in cash or securities to Schechter Boston, toward a charitable gift annuity.

• You and/or your beneficiaries receive fixed annual payments for life at a fixed rate based on the age of the beneficiaries.

• You can begin receiving payments immediately (if you are 50 or older) or defer payments for a year or more.

• You are eligible for an immediate tax deduction for your initial donation. If you donated appreciated assets to create the CGA, you may save on capital gains taxes as well. The principal passes to Schechter Boston after the lifetime of the beneficiaries.

An IRA, 401(k) or other qualified retirement plan provides a way to make a future charitable gift and helps to reduce tax burden on your retirement plan. Simply use your plan’s beneficiary designation form to indicate the amount or percentage of the plan’s assets you would like to gift to Schechter Boston. Here’s the process:

• You name Schechter Boston as a beneficiary of your qualifying retirement plan through a beneficiary designation form along with any other beneficiaries, such as heirs.

• After your lifetime, the remaining amount of your plan passes to your heirs, as well as to any charitable organizations such as Schechter Boston, which will receive the benefit, tax-free.

• You can continue to make withdrawals from your retirement plan during your lifetime— and qualified charitable distributions (QCDs) you make to Schechter Boston from your retirement plan after age 73 can help you meet the required minimum distribution and support Schechter today, while saving on taxes.

Naming Schechter Boston as a beneficiary of a life insurance policy is a relatively simple way to create a Legacy Gift to Schechter Boston. You can name Schechter Boston as a primary beneficiary of your life insurance policy or the contingent beneficiary should your other beneficiaries not survive you. You can also donate your paid-up life insurance. Here’s the process:

• Provide now for a future gift by naming Schechter Boston as a beneficiary of a qualifying life insurance policy.

• After your lifetime, the benefits pass to Schechter Boston free of the federal estate tax and are applied to programs supporting Schechter’s mission.

Many types of assets may be used to make a planned gift to Schechter Boston, including stocks, bonds, art or real estate. In many cases, gifting appreciated assets can reduce or eliminate capital gains taxes.