“As my parents planted for me before I was born, so I plant for those who come after me.” – Talmud
Bolton Street has growing financial needs that can’t be met solely through “organic” growth in membership. These include the maintenance and upgrade expenses related to an aging building and our grounds. We have an increasing need for additional staff, including religious, educational, music, and administrative personnel, to meet the needs of our growing congregation. Not all of those needs can be met by annual fundraising alone.
As you consider why you value belonging to the Bolton Street community, we ask that you help ensure these values are perpetuated in the future. You can do this by making a legacy gift, also called a “planned gift,” to secure the future of Bolton Street.
It starts with a declaration of commitment. Please consider joining those Bolton Street members who have already signed their declaration of commitment to Bolton Street’s future. Click here to fill out and return your own personal statement of commitment to create a legacy for yourself and your family that will live on at Bolton Street for generations to come. The nature and amounts of planned giving pledges are strictly confidential. By including your name you can provide motivation and inspiration to other congregants to follow your example.
Please note: This is not a legally binding document. It is either an acknowledgement that you have already taken steps to leave a legacy or that you plan to do so in the near future.
Planned gifts can offer donors significant tax benefits as part of estate planning and may also be structured to provide income to donors during their lifetimes. For more information on legacy giving, contact
Founding Bolton Street Legacy Society Members
Lissa Abrams and Abe Wasserberger
Karen and Bob Brown
David and Amanda Conn
Nancy Dalsheimer Savage
Debra Brown Felser and Gary Felser
Marc Hartstein
Sandra D. Hess
Kenneth Karpay
Scott Samuel Kravetz
Sharon Krevor-Weisbaum and Harold Weisbaum
Miriam Lupien
Joy Mandel and Tim Nehl
Russell and Leslie Seid Margolis
Randi Reichel and John Benner
Elaine Richman and Ralph Raphael
Shelia Thaler
Marc Wernick
Ethel Zelenske
The potential benefits of planned giving
There are many advantages to establishing a legacy:
A gift in your will or trust
You can make a legacy gift by deciding to leave a gift of a percentage of your estate, the remainder after gifts to heirs, or a specific amount in your will or living trust. There’s no limit on the amount you may set aside from your estate; you may make a gift as large or as small as you’d like.
If you have already drafted your will or trust, your attorney may be able to help you arrange a charitable bequest with a simple amendment, or codicil.
Here is some sample language to provide to your attorney:
“To the Bolton Street Synagogue of Baltimore, Maryland, taxpayer identification #521461318, I give [… ] % of the remainder of my estate [and/or] the sum of $ [ ______].”
A retirement account
Designating a charity as a beneficiary of your retirement plan is among the easiest ways to plan a legacy gift, and for many people with pre-tax accounts it may be the most tax-wise. Taxes on distributions to heirs can be up to 70%.
Naming one or more charities as the after-death beneficiaries of your retirement account can save taxes while supporting the causes closest to your heart. Though we recommend that you consult with your financial or estate planning professional when making legacy giving decisions, a gift from your retirement account does not require an attorney. You simply need to submit a change of beneficiary form, available from your retirement plan administrator.
A life insurance policy
You can also name a charity as the beneficiary of a life insurance policy. Or you can fund a large gift at modest current costs by purchasing a life insurance policy, specifying your organization as a beneficiary. Insurance premiums and cash surrender values can be made tax-deductible, and the resulting gift can offset future estate tax obligations.
Outright gifts
When you establish a permanent endowment fund with a current gift of cash or other property, your fund may be used to pay an annual gift to the charity of your choice. If you donate appreciated securities held for more than one year, you can avoid capital gains taxes and receive a tax receipt for the full value of your gift in the current year.
A charitable remainder trust
Charitable remainder trusts produce income for you or for loved ones, and the remainder after your lifetime is given as your legacy gift. You can take a prorated tax deduction now, remove assets from your estate, and potentially reduce estate taxes accordingly. A charitable remainder annuity trust provides fixed payouts, and a charitable remainder unitrust provides payouts which can grow as the funds invested in the trust grow. Upon the end of the term, the remainder of the trust will be contributed to complete your legacy gift to the Jewish community.
These descriptions are provided for informational purposes only, and do not constitute legal or tax advice. Please consult a financial or estate planning professional to understand the implications of a gift for your particular circumstances and goals.
