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A gift of long-term appreciated assets can be highly beneficial for both you and Hebrew Congregation of St. Thomas. Common examples include publicly traded securities, real estate, and personal property. By donating appreciated assets such as these, you may enjoy several advantages:
- Immediate Tax Deduction: In the year of your gift, you may claim an income tax charitable deduction for the fair market value of your gift, subject to IRS limitations. You can carry forward any unused deduction for up to five additional years.
- Avoid Capital Gains Tax: By donating appreciated property, you may avoid capital gains tax on the appreciation, reducing the cost of your gift.
- Estate Tax Benefits: A gift of appreciated assets may reduce your estate size, potentially lowering the tax on your estate.
- Immediate Impact on Hebrew Congregation of St. Thomas’s Mission: Your contribution will have an immediate and lasting impact on Hebrew Congregation of St. Thomas and its mission.
Giving Stocks, Securities, and Mutual Funds
When you donate appreciated stocks, bonds, and mutual funds, you can avoid taxes on your capital gains while also taking an income tax deduction for the fair market value of the shares. To maximize these benefits, the IRS requires:
- Holding Period: You must have owned the asset for over one year.
- Direct Transfer to Hebrew Congregation of St. Thomas: Instead of selling the shares and giving the proceeds, transfer the shares directly to Hebrew Congregation of St. Thomas to avoid capital gains taxes. As a tax-exempt organization, Hebrew Congregation of St. Thomas will not owe taxes when it sells these shares.
Please inform us once you’ve instructed your broker to transfer the shares so we can coordinate accordingly.
Real Estate Donations
You can donate real estate to Hebrew Congregation of St. Thomas. Contact us to learn more about thins giving option.
Donating Personal Property
You may also donate valuable tangible property, such as artwork, antiques, or vehicles. For more information on giving personal property, please contact us.
Consult with Your Advisors
We encourage you to speak with your financial and tax advisors before making a gift. The IRS offers tax incentives for charitable giving, enabling you to support a cause you value while potentially reducing your tax burden.
Thank you for considering a generous gift to help sustain Hebrew Congregation of St. Thomas.
JOIN OUR COMMUNITY
Over 3000 families, from all of the world, maintain a connection with this historic Caribbean outpost of Judaism by becoming “Chai” members of our Congregation. “Chai” means “life,” and this support is, in many ways, our lifeline, and life blood. Be a part of this spiritual community, become a member today!