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Smart tips to help maximize your charitable giving — and your tax benefits
As the end of the year approaches, you’ve probably noticed your inbox filling up with requests from charities asking for year-end donations. Giving is important, especially now. Like so many people, you may find yourself stressed as you scramble to locate receipts and track contributions to document your tax deductions for 2023. You may also discover that organizing your giving differently could have resulted in greater tax benefits.
Here are a few tips to help you maximize your tax deductions, be more intentional about your giving, and reduce stress not just in December, but throughout the year.
Organizing your giving with a charitable tax vehicle that offers an immediate tax deduction.
If you support multiple charities, consider using a vehicle to streamline your philanthropy. One option is a private foundation, which enables you to put aside money in advance, take a tax deduction up front, and plan your grant-making over time. But the drawback is that private foundations are costly to set up, and you will still need to manage your record-keeping and tax filings. A simpler option is a donor advised fund, which organizes your charitable giving, eliminates record-keeping, and doesn’t require filing a 990 form. That’s why donor advised funds (DAFs) are the fastest-growing charitable vehicle.
Donor advised funds help get money to your charities swiftly and securely.
Donor advised funds (DAFs) are a flexible and tax-efficient way to give, and most DAFs can be opened with a minimum contribution of $5,000. When you contribute to a DAF you qualify for an immediate deduction, regardless of when and how many charities you support. The DAF provides the only receipt you’ll need. Most DAF accounts are managed on a secure portal. At Jewish Communal Fund, you can make grants and see your giving and contribution history when you log in. You can recommend grants to IRS-approved charities in every sector.
Donate cash or appreciated securities to maximize your tax savings and earn tax-free income.
Cash contributions to a donor advised fund or other public charity are generally eligible for an income tax deduction of up to 60% of your adjusted gross income (AGI). If you have appreciated securities — held for more than 12 months — you can electronically transfer shares to a donor advised fund and claim a fair market value deduction of up to 30% of adjusted gross income. Even better, you will not be subject to capital gains tax on the appreciated portion of the contribution. After the DAF sponsor (the organization where you have your account) liquidates the stock, the proceeds are credited to your fund, enabling you to make grants to multiple charities. At Jewish Communal Fund, you may choose from a robust selection of investments, and the tax-free earnings will be rebalanced into your Jewish Communal Fund account.
Plan ahead and respond swiftly when there is a crisis.
Putting money aside when you have additional income such as a bonus, appreciated securities, or an inheritance allows you to be more tax-efficient and intentional with your giving. So when a crisis occurs, like the terrible Oct. 7 attack on Israel or a devastating natural disaster, you will be ready to help with a donation with the click of a button. Grants from Jewish Communal Fund are sent out within two to three days.
Use a donor advised fund to group contributions for several years of giving.
You can make a contribution to a donor advised fund by “bunching” what you would have contributed to charities over the next two to three years, enabling you to reach the threshold for itemizing your tax return and qualifying for a maximum tax deduction. Many DAFs do not have an annual minimum distribution requirement, so you can set the timetable for making grants.
Terminate a private foundation using a DAF.
If you already have a private foundation, you can transfer assets to a DAF to eliminate the expense and administrative burden. Unlike the private foundation, your confidentiality is protected because DAFs report in the aggregate rather than disclosing information on individual fundholders.
Engage the next generation with a community of Jewish philanthropists.
At Jewish Communal Fund, parents or other family members may open funds for their adult children between the ages of 18-30 with a contribution of only $1,800. This is an effective way to help the next generation begin their own philanthropic journey as part of a network of Jewish givers.
Why choose Jewish Communal Fund?
JCF is the largest and most experienced Jewishly affiliated donor advised fund in the nation, with over $2.8 billion in charitable assets for 4,700 funds. Each year, JCF’s board of trustees makes a $2 million gift from its revenues to the annual campaign of UJA-Federation of New York. JCF’s endowment, the Special Gifts Fund, makes annual grants on behalf of fundholders to support organizations that promote the welfare and security of the Jewish community at home and abroad. After the outbreak of the war in Israel, JCF’s trustees awarded $500,000 from the Special Gifts Fund for the Israel Emergency Fund of UJA-Federation of New York.
Additionally, JCF’s endowment has supported kosher food pantries, JCCs, Jewish summer camps, and services for the elderly and Holocaust survivors. Unlike commercial DAFs, JCF offers Jewish values investments such as Israel Bonds and an Israeli exchange-traded fund (ETF). JCF’s recoverable grant program partners with the leading Jewish loan societies – Hebrew Free Loan Society in the U.S. and Ogen in Israel. Just by using JCF to help streamline your giving, you will stand with a proud network of Jewish philanthropists supporting the Jewish community’s important communal organizations.
*This is not accounting advice, so consult with your accountant regarding your own personal situation.
Ellen Smith-Israelson is the CMO and vice president of philanthropic services at Jewish Communal Fund. Her career in philanthropy spans 36 years working in the arts, higher education and Jewish organizations. For help deciding whether a donor advised fund is right for you, visit JCFNY.org or contact the JCF team to request more information or schedule a call.
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The post Smart tips to help maximize your charitable giving — and your tax benefits appeared first on Jewish Telegraphic Agency.
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Keith Siegel, Yarden Bibas, Ofer Kalderon set to be released Saturday from Gaza
Philissa Cramer reports for JTA. Look for more updates from The CJN after Shabbat.
An American Israeli and a high-profile young father are among the latest hostages set to be freed from Gaza, in what will be the fourth release during the current Israel-Hamas ceasefire.
Keith Siegel, Yarden Bibas and Ofer Kalderon will be released on Saturday, Hamas told Israel on Friday. The three men are among 33 hostages whose release was required under the current deal, out of 98 held before the deal’s start earlier this month.
Siegel, 65, is the oldest American-Israeli hostage. A North Carolina native who moved to Israel as a young adult, he was abducted in his own car from Kibbutz Kfar Aza with his wife Aviva during Hamas’ Oct. 7, 2023, attack on Israel. Aviva was released after 51 days in a temporary ceasefire in November 2023 and has advocated for him since, wearing a T-shirt daily with a photo of him on it.
“Dad is coming!” Aviva Siegel shouts in a video the family posted on Friday after hearing the news that her husband was on the list for release. Siegel’s mother died during his captivity.
Bibas, 38, is the father of the only children who remain in Gaza and appeared in a hostage video in November 2023 that showed him responding to being told that his wife, Shiri, and sons Ariel and Kfir had been killed. Israel has never confirmed Hamas’ allegation that the mother and young children were dead, but has said there are “grave concerns” about them and did not insist on their release prior to that of living men.
This week, Israel demanded that Hamas “clarify” the status of Shiri, Ariel and Kfir, who were abducted separately from Yarden and have become global symbols of the crisis; it is not clear whether that has happened or will before his release.
Kalderon, 51, was abducted with his two children from Kibbutz Nir Oz. Sahar, 17, and Erez, 12, were released during the November 2023 ceasefire after 52 days in captivity. Their mother, Hadas, was a prominent voice for mothers of the children abducted on Oct. 7 and has continued to advocate for her ex-husband, a dual French-Israeli citizen.
After the three men are released, there will be 79 hostages remaining in Gaza, of whom at least 44 are confirmed to be dead—36 whose deaths were announced before the current ceasefire, and eight who are among the 33 whose release was negotiated as part of the current deal.
The post Keith Siegel, Yarden Bibas, Ofer Kalderon set to be released Saturday from Gaza appeared first on The Canadian Jewish News.
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Hamas Confirms Death of Terror Chief Mohammed Deif Months After Israeli Strike
Picture said to show leader of Hamas’s military wing, known as Al-Qassam Brigades, Mohammed Deif in a location given as Gaza Strip in this handout picture released on Jan. 7, 2024. Photo: Israel Defense Forces/Handout via REUTERS
The Palestinian terrorist group Hamas officially confirmed on Thursday that its military chief, Mohammed Deif, was killed during the Gaza war, almost six months after the Israel Defense Forces (IDF) reported his death.
Deif, the architect of Hamas’s military capabilities, is believed to have been one of the masterminds behind the terrorist group’s invasion of and massacre across southern Israel on Oct. 7, 2023 — which sparked the Gaza war.
Abu Ubaida, a Hamas spokesperson, also reported the deaths of Deif’s deputy, Khan Younis Brigade commander Rafa Salama, as well as senior operatives Marwan Issa, Ghazi Abu Tama’a, Raad Thabet, Ahmed Ghandour, and Ayman Nofal.
According to the IDF, Deif was killed in an airstrike in Khan Younis in southern Gaza on July 13 of last year.
Following weeks of intelligence assessments, Israeli authorities gathered evidence to confirm Deif’s death before publicly announcing it in early August.
“IDF fighter jets struck in the area of Khan Yunis, and … it can be confirmed that Mohammed Deif was eliminated in the strike,” the military said. “His elimination serves the objectives of the war and demonstrates Israel’s ability to carry out targeted strikes with precision.”
At the time, Hamas neither confirmed nor denied Deif’s death, but one official, Ezzat Rashaq, stated that any announcements regarding the deaths of its leaders would be made solely by the organization.
“Unless either of them [the Hamas political and military leadership] announces it, no news published in the media or by any other parties can be confirmed,” Rashaq said.
In November, the International Criminal Court issued an arrest warrant for Deif, as well as for Israeli Prime Minister Benjamin Netanyahu and his former Defense Minister Yoav Gallant, for alleged war crimes and crimes against humanity related to the Oct. 7 attacks on Israel and the ensuing war in Gaza.
Deif is believed to have collaborated closely with the late Hamas leader Yahya Sinwar, managing military operations and coordinating with the group’s top commanders throughout the conflict.
After Deif’s assassination, then-defense minister Gallant posted an image on social media praising the Israeli military’s accomplishment.
“The assassination of mass murderer Mohammed Deif — ‘Gaza’s Bin Laden’ — is a major step toward dismantling Hamas as a military and governing entity, and achieving the war’s objectives,” he said.
The post Hamas Confirms Death of Terror Chief Mohammed Deif Months After Israeli Strike first appeared on Algemeiner.com.
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‘A Bad but Necessary Deal’: Five Members of His Family Were Murdered — Today, Their Killer Walks Free
Oran Almog, right, addressing the UN Security Council next to Israeli Ambassador to the UN Danny Danon on July 25, 2017. Photo: Screenshot
While the release of three Israeli hostages on Thursday brought relief and elation across Israel, it also triggered a wave of mixed emotions, especially among victims who saw the terrorists responsible for their suffering set free. One of them is Oran Almog, who was just ten years old when a Palestinian terrorist disguised as a pregnant woman blew up the restaurant he was in, killing five members of his family and leaving him blind.
Yet, while Thursday’s release of Sami Jaradat — the mastermind behind the October 2003 massacre of Almog’s family — was a deeply personal blow, the return of hostages remained a necessary step, he said.
“That the terrorist who killed my family will find himself free is deeply painful, heartbreaking even,” he told The Algemeiner. “But at the same time, I know that even today — especially today — I must set aside my personal pain and focus on the significance of this deal. And the significance is clear. We are getting our hostages home, and that is the only thing that matters.”
Almog’s father, Moshe Almog, his younger brother, Tomer, his grandparents Admiral (res.) Ze’ev and Ruth Almog, and his cousin, Asaf, were murdered when the suicide bomber, Hanadi Jaradat, a 29-year-old lawyer from Jenin, managed to get past the security guard of the Maxim restaurant — jointly owned by a Jewish Israeli and an Arab Israeli — and blow herself up. Sixteen other people were also murdered in the attack, among them four children. Almog lost his eyesight, and his mother, sister, and aunt were among the 60 injured Israelis.
“Sami Jaradat’s continued imprisonment will never bring my family back, but his release can bring the hostages back home alive,” Almog explained.
Emotional meeting between Agam Berger and her family at Beilinson Hospital in Israel. Photo: Haim Zach (GPO)
Almog knows firsthand what it means to be on the receiving end of a hostage-prisoner exchange.
Just two weeks after marking the 20th anniversary of the Maxim restaurant attack, another tragedy struck his family. On Oct. 7, 2023, Hamas terrorists brutally murdered Nadav and Yam and abducted Chen, Agam, Gal, and Tal from the Almog-Goldstein family in Kfar Azza.
Fifty-one days later, in November 2023, they were released from Hamas captivity in a temporary ceasefire deal.
Under the current ceasefire agreement reached earlier this month, Hamas will release a total 33 Israeli hostages, eight of whom are deceased, according to the terrorist group. In exchange, Israel will free over 1,900 Palestinian prisoners, many of whom were serving multiple life sentences on terrorism offenses. Thursday saw the release of three Israelis — including IDF surveillance soldier Agam Berger, 20, and civilians Arbel Yehoud, 29, and Gadi Mozes, 80 — and five Thai nationals, who were working in Israeli kibbutzim when they were abducted.
“This is a bad deal, very bad, but the alternative is that much worse,” Almog said. “We must look ahead, put today aside, and recognize that releasing prisoners serves a greater purpose.”
However, Almog expressed hope that Israel would move toward a more decisive and uncompromising approach in its fight against terrorism.
“I sincerely hope that as a country, we will have the wisdom to decisively thwart terrorism,” he said, emphasizing the need to break free from the ongoing cycle of prisoner exchanges.
“I don’t want us to find ourselves trapped in a cycle of releasing terrorists, only for them to return to terror, and then repeat the process again and again,” he added.
Almog has previously addressed the UN Security Council, urging action against the so-called “pay-for-slay” scheme, in which terrorists and their families receive monthly stipends from the Palestinian Authority. The terrorist behind the murder of Almog’s family received $3,000 a month while behind bars, making him almost a millionaire by the time of his release.
Still, Almog concluded with a deeply uplifting message for the returning hostages, confident that they would have a chance at a good life, drawing from his own experiences since the terror attack.
Oran Almog. Photo: Facebook
After his release from the hospital, he began a long rehabilitation process, culminating in third place at the World Blind Sailing Championship with Etgarim, a nonprofit founded by disabled veterans and rehabilitation experts, and supported by the International Fellowship of Christians and Jews (IFCJ). He was chosen to light a torch at Israel’s Independence Day ceremony marking the 60th anniversary of the state and, despite his disability, insisted on enlisting in the IDF, serving in an elite unit. Today, he is a managing partner at a financial technology fund, works with Etgarim, and shares his story globally through lectures.
“I know the hostages will be able to return, to live, and to live well. With enough support — and a great deal of willpower — it is truly possible to rebuild life, even after the deepest catastrophes,” he said.
The post ‘A Bad but Necessary Deal’: Five Members of His Family Were Murdered — Today, Their Killer Walks Free first appeared on Algemeiner.com.
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