Finances
Ending the Year Strong
Make a Difference to Organizations
Questions to Consider
How can I use my IRA to honor my lifetime of giving?
Allocate all, or part, of your IRA to your favorite organizations with a
personalized Legacy plan through the Jewish Community Foundation. This may
avoid taxes. Ask them for their 5 Steps to Creating a Legacy booklet to help
you with this process.
How do I avoid my Required Minimum Distribution being counted
towards my income?
If you are over the age of 70½, IRS rules require you to take annual distributions
from your retirement account. You may be able to exclude these distributions from your income as long as they are
directed to a qualified 501(c)(3) organization. This option is known as the qualified charitable distribution (QCD). However,
current law does not permit donor advised funds to accept QCDs, but they may be used to establish or contribute to an
endowment fund.
What is a Donor Advised Fund and how do I open one?
A Donor Advised Fund (DAF) is an individual charitable
account that helps make giving easier and more meaningful.
With a minimum gift of $1,800, you can open a donor advised
fund and begin recommending grants starting as low as
$100. A donor advised fund allows donors to direct all of their
charitable contributions through one personal philanthropic
account. Upon giving to the fund, donors may receive
immediate tax benefits and then support nonprofits of their
choice anytime in the future.
To open a Donor Advised Fund, please contact the Jewish
Community Foundation at (858) 279-2740.
Please note: The Jewish Community Foundation does not provide tax advice.
Donors should consult their tax and/or legal advisors for specific guidance.
86 GBSAN.COM | DECEMBER 2018