How to Give

There are many ways you can donate (and pay dues) to Temple Beth-El, and no method is right for everyone.  Some of the ways, described in detail below, both for current giving and in your estate plan are:

• Check
• Credit Card
• ACH (Electronic Funds Transfer)
• Prepayments
• Gift of Securities
• Tax Treatment of Gifts
• IRA Distribution
• Donor Advised Fund
• Bequest in Your Will
• Beneficiary of Tax-Deferred Retirement Accounts
• Non-Liquid Assets

Check: Make your check out to “Temple Beth-El” and mail to 402 N. Tioga St., Ithaca, NY 14850.   In the memo line, indicate “General Operations” or the name of the fund to which you are donating.

Credit Card:  You can donate to any Temple Beth-El fund  using a Credit Card.  When making a donation, there is no convenience fee added to the amount you are donating.  However when using a credit card to pay your dues, a convenience fee of 3% will be added to your dues payment.

ACH (Electronic Funds Transfer): ACH may be used by logged in users for donations, dues and events.  No fee is added for this service.

Prepayments: You can make prepayments on your account, and later use the credit to make payments for donations, dues, etc.  This provides the convenience of using the website for payments without incurring any fees, and may be particularly attractive to people using IRAs and gifts of securities.  Click HERE for more information.

Gift of Securities:  You may be able to save taxes by making a donation through a gift of securities – it’s not difficult!  A gift of securities results in a tax deduction equal to the gift’s value, if you itemize deductions.  By making a gift of securities that have a low tax basis, you may obtain a tax deduction and will also avoid capital gains tax for the sale of the security.  Contact treasurer@tbeithaca.org for instructions.

Tax Treatment of Gifts:  A gift of cash results in a tax deduction equal to the value of the gift if you itemize deductions.  Under the new tax law, you will only itemize deductions if your total deductions exceed the standard deduction, which in 2019 is $12,200 for single individuals and $24,400 for married couples.  In order to reach this threshold, you may want to consider doubling up your gifts every other year, or otherwise “bunching” your gifts.

IRA Distribution:  If you are over 70 ½, you can make a Qualified Charitable Distribution from your IRA in lieu of taking a required minimum distribution.  You can have a portion of your IRA (up to $100,000 per year) paid directly to Temple Beth-El.  This gift can be used to replace any required minimum distribution (RMD) you would otherwise need to take, thus avoiding income taxes.  Please e-mail treasurer@tbeithaca.org to indicate to where the contribution should be directed (i.e., for General Operations or to a specific fund).

Donor Advised Fund: Your contribution to a donor-advised fund (DAF) can be tax deductible for income tax purposes if you itemize deductions.  You can make the gift to the DAF in one year, and then spread out the benefits to Temple Beth-El and your favorite charities over time, as you choose.  You take the tax deduction in the year that you make the initial deposit to the donor-advised fund.  By consolidating gifts in one year, you are able to take a deduction in one year, which may have otherwise been lost under the new tax law.  You can create a DAF at the Community Foundation of Tompkins County , Vanguard Charitable , and many similar organizations.

Bequest in Your Will:  You can leave a set amount or a percentage of your estate in your will to Temple Beth-El (click HERE to see samples of appropriate wording).  If your estate is subject to estate taxes, the bequest will reduce these taxes.  If you make a bequest to Temple Beth-El, you will be recognized as a member of the L’Dor Va’Dor Legacy Society.

Beneficiary of Tax-Deferred retirement Accounts:  Your estate plan may include IRA’s, 401(k)’s, TIAA-CREF or other retirement accounts.  If you name family members as beneficiaries of those accounts, every dollar they receive will be subject to income tax.  Not so for Temple Beth-El.  Since Temple Beth-El is a not-for-profit institution, it may receive funds from retirement accounts without any income tax obligation.  Consider leaving assets outside of retirement accounts to your family, and retirement funds directly to Temple Beth-El.  If you do so, you will be recognized as a member of L’Dor Va’Dor Legacy Society.

Non-Liquid Assets:  Donations and bequests of various non-liquid assets can be made to the Temple Beth-El Endowment Fund held at the Community Foundation of Tompkins County.  Contact the Community Foundation or treasurer@tbeithaca.org for further information.