Planned Giving is increasingly becoming more vital to ensure Israel’s future. WIZO can work with you and your advisors to structure a gift that best fulfills your charitable goals.
Kindly Contact WIZO Florida for more information or assistance with any of the following options.
The Guardians of Life
Make WIZO the beneficiary of your life insurance policy!
You can help WIZO maintain a consistent cash flow to carry out both day-to-day commitments and long-term goals through the gift of a life insurance policy. You can apply for a permanent life insurance policy on your life and name WIZO both owner and beneficiary of the policy. Since WIZO is a charitable organization, your annual gift of the premium payment is tax-deductible.
The proceeds of the life insurance are tax-free upon the donor’s death, or when the policy matures, whichever comes first. Furthermore, the donor’s estate will not owe gift or estate taxes on the amount of the claim.
The gift of life insurance can be a “win-win” proposal for both you and WIZO. Let the light of your giving shine for generations to come.
The Society of Raya
Make a life income gift or include WIZO in your estate plans!
The Society of Raya is a group of philanthropists who have made a gift to WIZO through their Trusts and Assets designations. These donors may receive annual financial payments and/or generous charitable tax deductions for their planned gifts. Through their foresight and generosity, these individuals play a key role in establishing a sound foundation for WIZO and ensuring the growth and success of its projects in Israel.
Charitable Annuity Trust
A charitable annuity allows you to make a meaningful gift to WIZO while also providing for your future financial well-being. A gift annuity makes it possible to transfer cash, real estate, or securities such as stocks or bonds, to WIZO. In exchange, you or someone else you designate will receive fixed payments for life. All prospective donors are urged to seek the advice of a competent tax professional as to the tax consequences of this gift prior to entering into a gift annuity agreement with WIZO.
IRA and Pension Plan Distribution
Retirement plan proceeds paid after death are subject to both income and estate taxes. If you have accumulated substantial amounts to your retirement account and you are in the highest brackets for paying income and estate taxes, those taxes can exceed 75% of the amount in the plan. These are, therefore, not ideal assets to bequeath to your heirs.
Naming WIZO as the after-death beneficiary of one or more such plans (pension, profit-sharing, Keogh, IRA, 401(k) among others, can save such taxes and greatly assist WIZO at a minimum cost to your family. You can, therefore, make a substantial donation with plan assets that would otherwise be used to pay income and estate taxes.
Donating Art, Jewelry or Other Property
If the property you wish to donate is used directly by WIZO for its charitable purposes, then the full fair market value of the property is deductible. Gifts of property that must be sold, or are unrelated to WIZO’s tax-exempt purposes, may qualify for a limited charitable tax deduction.
In any event, gifts of property are not subject to a tax on the unrealized capital gain and may be used to fund a charitable remainder trust. Therefore, you shall not pay taxes over the difference between the original purchase price of the donated property and the sale price WIZO may obtain for it after the property has been duly transferred to our organization.