CHAMPAIGN-URBANA JEWISH FEDERATION & ESTATE PLANNING
The Champaign-Urbana Jewish Federation has supported local, national and international organizations for many years. You can help ensure that future generations will continue to receive CUJF support by remembering CUJF when planning your estate or making retirement plans. Gifts can be made to CUJF for one year or to continue for many years. Gifts can be donated for a general purpose or for a specific program or use. Gifts can be made not only as a part of a will but also made with CUJF being a beneficiary of an IRA or insurance policy.
Many planned giving options allow donors and their loved ones to receive income during their lifetimes from assets that will eventually benefit CUJF. Planned giving arrangements can be set up to be revocable by the donor if circumstances change and planning can provide for the donor's vision for the future in a tangible way without an uncomfortable financial burden during his or her lifetime. A donation plan developed with a professional may reduce estate tax for the surviving family members.
There are many ways in which to provide financial support for generations to come. The following is a summary of ways in which you can contribute to CUJF.
WHERE WILL MY MONEY GO?
Most of the Champaign Urbana Jewish Federation’s income comes from annual donations from families in our local community. The income that is received in a fiscal year will be allocated for use the subsequent fiscal year. For that reason, the CUJF spends only money that is available to it.
Administration: The CUJF currently employs a full-time director and a part-time assistant who manage the day-to-day affairs of the CUJF.
Local Committees: The CUJF supports numerous committees such as Human Services, Holocaust education, New Americans, Gift of Israel, and Chevra Kadisha.
Support for Agencies and Organizations: The CUJF supports Hillel, Chabad, Jewish education at Sinai Temple and numerous programs in Israel such as the Ashkelon Youth-at-risk Club.
A donation may also be made to the CUJF in general and part of a donation may be earmarked for a specific purpose.
HOW CAN I DONATE NOW?
You can donate right now. If you want to contribute to the CUJF, just send cash or a check (made out to CUJF) to the Champaign-Urbana Jewish Federation at 503 E. John St., Champaign, IL 61820. You can also make a donation at shalomcu.org or simply by clicking on the Donate Now tab on the right.
WHAT IF I WANT TO DONATE IN THE FUTURE?
Many people have retirement funds (IRA’s or pensions), life insurance policies and other financial accounts (stocks, checking accounts). With any of these, you may list the CUJF as a beneficiary. You should consult your employer, bank or insurer about how to do it. It may be as simple as notifying them in writing of your desire that a certain monetary amount go to CUJF.
Perhaps the most common way to plan for the future is through a will or a trust. Although you may create your own will or trust, consider consulting a legal or tax professional in order to determine which may be best in your particular financial circumstances and to maximize the tax savings for your estate. Even if you already have one prepared, it is simple to change it in order to list CUJF as a beneficiary.
Wills and trusts provide simple ways in which to divide up your assets upon your death.
In a will or a trust, you can make a gift of a certain dollar amount, a specific property, a percentage of your estate, or what is left over after you have taken care of your loved ones.
The following language may be helpful in crafting a will or trust in which CUJF is named as a beneficiary:
“I give to the Champaign Urbana Jewish Federation, Champaign, Illinois, Illinois, the sum of $________________________ (or _________________ percent of the remainder of my estate) to be used for the benefit of Champaign Urbana Jewish Federation in such manner as the Board of Directors thereof may direct.”
If you would like some or part of the gift to be earmarked for a specific purpose, just state:
“It is to be placed in the ___________ Fund” or “It is to be used for the following
Not everyone can make a large gift to our Jewish community presently, but planned giving is something that everyone can do and there are several types of plans. Many of these have wonderful benefits for the gift donors. If structured properly, donors can enjoy increased income and generous tax savings.
The information provided here is not intended as legal, tax, or investment advice. For such advice, please consult your attorney, tax professional, or investment professional.
Your Donation Matters!