Tax advantaged donation to JAINA
The North American Jain community is growing rapidly and because of our educational and professional backgrounds our incomes and wealth have also grown. As our wealth has increased, new challenges arise such as higher income taxes and ultimately estate taxes.
You will be glad to know that philanthropy can be used to reduce taxes and simultaneously, help family members to transmit values.
How does a donor give? What are the donor benefits?What are the benefits to JAINA?
The type of approach would benefit our association much like the large universities, such as Yale and Harvard, where many generous donors have established their foundations and endowment:
WHAT DO DONOR’S GIVE?
- Cash and cash equivalents
- Publicly traded securities
- Closely held securities
- Life insurance
- Real estate
- Personal property
- Retirement assets
- In-kind gifts and pro bono services
HOW DOES A DONOR GIVE?
1) Cash & Cash Equivalent
May take a charitable gift deduction for the amount of a charitable gift of cash or cash equivalents
2) Life Insurance
Can deduct the premium as donors pay them. Also can deduct the cash value
3) An Outright Gift of Appreciated Marketable Securities
A charitable value of the security on the date of the gift provided the owner owned it for more than one year. In addition, a donor does not incur capital gains tax on the transferof such securities to JAINA
4) A Charitable Lead Trust
The capital value of marketable or income producing assets to remain in the donor’s family. This is a very unique and efficient way of passing the donor’s assets to the next generation
5) A Charitable Remainder Trust
A donor retains defined income interest for their lifetime. A large income tax deduction now. The trust can sell appreciated security and at the same time no capital gain tax on the realized gain
6) A Bequest
A bequest to JAINA would qualify donor’s estate for an estate tax charitable deduction equal to the entire amount one bequeath
Donation is Easy
- Donate easily online by going to http://www.jaina.org/donate
- Donate by check.Please send your checks to the following address:
Att: Gunvant Shah
12 Ascot Place
North Brunswick, NJ 08902
Your Benefits of Giving to a Tax Exempt Organization (JAINA):
- Income tax deduction
- Capital gain tax elimination
- Estate tax reduction/elimination
- Gift tax reduction/elimination
- Generation-skipping tax reduction/elimination
- Ability to pass on a significant portion of your assets to children/grandchildren
- Ability to retain income for your lifetime or provide an income for loved ones
- Ability to leave a legacy
- Ability to share values with the family, children and grandchildren
- Ability to serve the community
For a full list if benefits, please click here: www.jaina.org/donorbenefits.
In the USA tax laws generally are very favorable to generous people. They allow donors to receive many tax deductions and at the same time benefit their next generation as well as charitable organizations.
JAINA is registered under IRS Section 501 (C) (3) as a Non-Profit Tax Exempt Organization. JAINA has the infrastructure and experience to branch out and start offering many more services which were not offered previously. JAINA can create particular foundation requested in the will or trust of a donor.
We all have our own unique set of financial circumstances, lifestyle and value system. Our attorneys, accountants and gift planning professionals can take a proactive role in educating us about the variety of philanthropic options available and how these can be used to impart charitable values to our children.
With your generosity, JAINA is committed to build strong community, help our service initiatives, and work to make Jainism a common knowledge in North America. We have learned that there are alternate ways to give besides just cash. Please remember JAINA, during any of the following opportunities:
- Year-end tax planning.
- Large capital gains on the stocks.
- Selecting or adding a beneficiary for your Lead/ Charitable Remainder Trust.
- Gifting excess life insurance policies, its cash value.
- Also, please contact your employer to see if they do offer gift matching program- Donation.
- Please review your estate plan.
We are confident; we can use the available tax benefits to make charitable gifts cheaper, but will not allow the reduction of these benefits to inhibit the wise use of wealth. Of course, you will have the same tax benefits, whether you donate to JAINA, Jain Centers or any other public charity, such as the Red Cross or Harvard University to name a few.
Please note that almost 100% of your donation dollar will benefit our communities (in North America, India and world).Our future generation will truly appreciate your generous support.
Dr. Jayesh Shah, Chairman
First Vice President
Fund Raising Committee
Disclaimer:JAINA cannot give and is not intending to give any legal/tax or accounting advice and we strongly encourage you to consult your own attorney/tax advisor or financial planner for the potential tax benefits if you intend to follow any of the charitable giving options.”
For donation or more information please contact:
Dr. Jayesh Shah at 626-379-5590, firstname.lastname@example.org
Gunvant Shah at 732-253-7049, email@example.com