Planned Giving and Endowments
“Tzaddikim – Good people say little and do much.” — Rabbi Elazar.
Every gift, large or small, makes a difference. No matter the occasion, your donation enables us to continue helping you on your journey and inspiring you toward living a rewarding Jewish life.
Tzedakah is literally translated as “righteousness.” Giving is a way of life for us. When we donate to cherished recipients, we offer an expression of priority and value.
When you decide to make a planned gift to Temple Har Zion and join the Tzaddikim Righteous Person Club, you are demonstrating your commitment to our community while ensuring the future of our spiritual home. All gifts are appreciated regardless of size.
There are many ways to make a planned gift. You can include Temple Har Zion in your will, make the synagogue a beneficiary of your IRA or life insurance policy or create a charitable trust that names Temple Har Zion as a beneficiary. Often, these gifts cost you nothing today and help you make a tax-wise investment for your future. A planned gift could be a simple bequest in your will or the designation of Temple Har Zion as a beneficiary of a life insurance policy, retirement fund or trust. It will serve to ensure the future of Temple Har Zion for generations to come.
For more information on how you can join The Tzaddikim Club, contact Rabbi Glick at Rabbiglick@wsthz.org.
Leave a lasting legacy.
Your gift to Temple Har Zion helps ensure our continued service to our Jewish community and the world, while leaving a lasting legacy for you and your family.
Your gift will have direct impact and meaning for future generations.
Your estate gift will help us transmit a strong Jewish identity Midor L’dor, from generation to generation, and support a thriving center of Jewish life in Chicago’s Western suburbs.
Planned gifts offer unique and lasting benefits.
There are many options for planned giving contributions that make it comfortable for you and your family to leave a gift, including tax benefits for your estate and heirs.
We invite you to remember us in your estate plans.
Your will is one of the strongest legal documents to leave a planned gift. You can even include how you’d like your gift to be allocated or used.
Thank you for considering a gift to Temple Har Zion.
Contributions are welcome from individuals, businesses, organizations, and foundations that value our mission and services. Please see the many charitable gift options below and talk with your financial advisor.
Qualified Charitable Distribution (QCD)
The qualified charitable distribution (QCD) rule allows traditional IRA owners to exclude their required minimum distributions (RMDs) from their adjusted gross income if they give the money directly to a qualified charitable organization.
Life Insurance
Donate policy and deduct future premium payments, or just name the charity as policy beneficiary. Individuals typically pay less than $1 for $1 of coverage.
Charitable Remainder Trust
Great tool for selling assets tax-free and receiving income for life; the remaining assets go to the temple. It provides steady cash flow and can be more beneficial than keeping an asset or selling it outright.
Retirement Assets
Retirement funds that are paid to children at passing can get taxed at 70% or more (with income and estate taxes) but are tax-free to religious institutions.
Charitable Lead Trust
You greatly reduce or avoid estate tax on trust assets passing to family… if some trust income goes to the temple for a few years. Trust provides generous estate and gift tax deductions for wealth transferred to family at a more mature age.
Family Business Stock
When the time comes to transfer or sell your business, there are tax and practical reasons for including a charity in the plan. Tax advisors can be creative.
Donor Advised Fund
Works like a “charitable bank account” – claim deduction now and decide later when the temple will receive the funds. You can retain control and family influence over charitable dollars.
Private Foundation
Allows you and your family to invest and control your charitable dollars.
Allows you and your family to invest and control your charitable dollars.
“Lifetime Bequest” (Gift Now + Estate Pledge)
Secures a current gift and increases potential for an even larger estate gift. A long-term pledge binding your estate can leverage donor recognition for these linked gifts.
Real Estate
Great for making a gift and transferring the burden of managing the property. It won’t reduce your disposable funds.
Great for making a gift and transferring the burden of managing the property. It won’t reduce your disposable funds.
Bargain Sale
You can sell your property at a discount, deduct the difference, and receive a lump sum or installment payments. It will not reduce your disposable funds.
Life Estate Deed
You can deed your home or other real property to the temple, save taxes with a current deduction, and still use the property for the rest of your life. It won’t reduce your disposable funds.
Endowing clergy and staff positions
Since 2019-20, Temple Har Zion has raised funds by endowing clergy and staff positions. To learn more about endowing a position, please email Rabbi Glick at rabbiglick@wsthz.org or the temple office at office@wsthz.org.