A legacy gift, also known as a planned gift, is a type of gift that many donors choose to make through their estate plans. A legacy gift to Syracuse Hillel ensures that the programs and experiences that are central to every Jewish student on campus will continue to flourish. Hillel seeks to make Judaism relevant to every student on Syracuse University’s campus through our world-class programming and engagement efforts. A legacy gift can truly sustain Hillel’s presence on campus and in the greater community by supporting our incredible staff, maintaining our 16,000 square foot facility, and our amazing programming including but not limited to FreshFest, educational initiatives, Peer Network Engagement Internship, and weekly Shabbat meals and services.
Types of Legacy Gifts
You can make a bequest gift of a percentage of the remainder of your estate, specific property or a specific dollar amount. The estate may receive a tax deduction in the amount of the charitable bequest. If you already have a will, an attorney can help arrange a charitable bequest with a simple amendment (codicil).
A very easy and popular option for people of all ages is to name Syracuse Hillel as a beneficiary of a retirement plan. The most tax-wise option: whereas retirement plan distributions to heirs can be extremely high (exceeding 70% in some cases), retirement plans distributions to charity incur no taxes. You can specify a percentage of the account. Contact your plan administrator for a form or in most cases, you can complete the form online.
IRA Charitable Rollover
The IRA charitable rollover has been permanently renewed by Congress. Charitably minded taxpayers have the opportunity to transfer up to $100,000 each year to charity without it being treated as a taxable distribution.
Charitable Gift Annuities
A gift that provides income gives the donor and/or another person such as spouse, child, or parent, with income for life. A charitable gift annuity is created in exchange for donations of cash or marketable securities and, at the termination of this gift, the remainder will create a meaningful legacy gift for Syracuse Hillel.
Gifts to Syracuse Hillel using life insurance may be made in two ways:
You may name Syracuse Hillel as owner and beneficiary of either an existing or new policy.
You may use life insurance to simply name Syracuse Hillel as the beneficiary of your policy.
Since Syracuse Hillel does not own the policy, the gift is considered revocable, or without immediate tax savings. However, this type of gift may be eligible for a federal estate tax charitable deduction at the time of your passing.
For more information about these legacy gifts, specific questions, or to learn about the most fulfilling way for you to leave your legacy, please contact Jessica Lemons.
For all parties' reference, Hillel: The Foundation for Jewish Campus Life's [Syracuse Hillel] EIN is 45-1441843.The discussion herein is general in nature and may not apply to all individuals. Prospective legacy society members are urged to consult their personal tax and financial advisers concerning the specific consequences of making gifts to Syracuse Hillel. We would be pleased to discuss, in confidence, ways in which you may support Syracuse Hillel. These measures may also have an impact on your estate planning.