Each of the options described below provide you with specific benefits, and each is advantageous to JESPY House -- either as a gift to be used now or one which allows us to plan for the future of our charitable organization.
Endowment FundYears ago, parents of a JESPY client had the foresight to establish the JESPY House Endowment Fund as a donation vehicle to support JESPY’s future. Over time, many individuals have contributed to it. With careful investment strategies, this fund has grown to over $700,000. Our goal is for this fund to reach and then exceed $1,000,000. At that point, we will be able to use the interest from the fund as an ongoing source of revenue to help sustain JESPY House into the future.
Supporting the JESPY House Endowment Fund with your tax-deductible donation is a thoughtful way to make a gift today that can reap many benefits for JESPY clients in years to come. We hope you will consider being part of this special group of endowment fund supporters.
Gift of Appreciated AssetsIf you want to make a meaningful gift to JESPY, consider a gift of publicly traded stock, bonds or mutual fund shares rather than cash. Gifting appreciated assets you have held for a year or more have true tax advantages:
- You can eliminate capital gains taxes on the securities you donate.
- You can receive a federal income tax charitable deduction based on the current fair market value of the securities on the date of the gift (depending on your tax situation).
You will derive a greater tax benefit if you make your gift of appreciated assets directly to JESPY House through our pre-qualified broker rather than selling them first and then donating the proceeds.
Please contact Amy Engel, Director of Development at 973-762-6909, ext. 313 or email@example.com to advise us of your interest in making a gift of securities. We will put you and your broker in touch with JESPY’s account representative at Merrill Lynch so you can easily make your gift of appreciated assets.
IRA Charitable RolloverIf you are age 70˝ or older and have IRAs, you may want to use an IRA Charitable Rollover – also known as a Qualified Charitable Distribution (QCD) -- to fulfill your charitable giving goals while reducing your adjusted gross income.
A QCD allows you to make direct or outright gifts of up to $100,000 a year from a traditional or Roth IRA to a qualified charity. JESPY House is a qualified charitable organization.
It is important to note that the QCD from your IRA account must be made to JESPY House DIRECTLY for the distribution to not be considered as taxable income. In addition, the amount of your charitable distribution when added to the total amount of your charitable IRA rollover distributions made this calendar year cannot exceed $100,000.
BequestsBequests through your will/estate plan allow you to keep your assets in your control during your lifetime. There are no limits to the amount you can bequeath to your beneficiaries. To ensure that your wishes are realized after you are gone, be sure to update your will/estate plan periodically.
As you review your plans you may find that giving through your will is a convenient way to leave a lasting legacy to JESPY House. After providing for loved ones, you may decide to leave a specific amount, a percentage of your estate or what remains after others you choose have been remembered.
Other meaningful options to consider include naming JESPY House as the beneficiary of your life insurance policy or retirement plan assets such as an Individual Retirement Account or pension plan.
JESPY House, Inc. is a 501 (c) (3) nonprofit organization with Federal Tax ID # is 22-2186490. We strongly encourage you to get professional financial and/or legal advice before making any of the gifts described above.
For more information, or to set up a confidential meeting, please contact Amy Engel, Director of Development at 973-762-6909, Ext. 313 or firstname.lastname@example.org.