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Page8-THE NEWS-November,1986 Seminar on Jewish Community Fund To Be Held VolUlltCCr • A charitable donation in '86 can give you lifetime income. • Provide years of contributions to your favorite charities and get the full deduction in ’86 with a donor advised fund. • Prepay your contributions and save up to 50* on the dollar. • A small tax deductible donation this year can mean a ma jor contribution in the future through a gift of insurance. A. 11 the above ideas for per sonal tax planning and many, many more will be discussed and explained at a seminar, Sunday, Nov. 9, 8 p.m. at Shalom Park. Phe seminar is cosponsored by the Jewish Community Fund of the Charlotte Jewish Federation, the Blumenthal Home, The Foundation, JCC, Lubavitch, N.C. Hebrew Academy, Temple Beth El V’Shalom and Temple Israel. Accountants, lawyers and ex perts in the rapidly developing area of endowments and chEiritable funds will be pre sent to assist those who attend. The Jewish Community Fund is the newly established program of the Federation, chaired by Shelton Gorelick. ‘The Fund can best be com pared to a bank,” says Garelick. “It offers a wide variety of ‘accounts’ into which tax deductible dollars can be placed for the benefit of the institution(s) preferred by the donor.” More than $335,000 has already been placed with the Jevdsh Community Fund. It is expected that this year alone as much as $250,000 more will be placed in various funds. A donor advised fund is a par ticularly popular form of con- trihution. Under this program the donor is able to place any sura of $1000 or more into a fund and then recommend distribution from that over as many years as he/she chooses to distribute all of the original deposit. Mesinwhile, the initial sum is totally deductible in the year in which it is first given. **The Fund can best be compared to a bank.’ The top individu£il tax rate will drop from the current 50% to 38.5% in 1987 and 28% in 1988. (Taxpayers at certain taxable income levels may have a margined rate of 33% starting in 1988). The reduced rates create an opportunity for tax saving through accelera tion into 1986 of deductions that would otherwise be cledm- ed in 1987 or later. The gr£uitor charitable lead trust is one way to take advan tage of deduction acceleration. Such a trust is set up to distribute a fixed amount of income to a charity for a period of less than 10 years. When the trust terminates, the principle reverts to the donor. The donor gets a charitable deduction in the year the trust is created equal to the present value of the total annual payments going to the charity. Thus a 50% bracket tsucpayer setting up a donor charitable lead trust would reduce his 1986 tax bill by half of the present value of the payments. In later years the trust in come is taxable to the donor, but at then applicable lower rates. Illustration: John Smith makes annual gifts of $5,000 to the Charlotte Jewish Federation and wants to con tinue making these gifts. He creates a grantor trust paying an annuity of $5,000 per year for 9 years — a total of $45,000 to the fund. The present value of $45,000 is $28,795, which is the amount available to Smith as a 1986 charitable contribu tion. In the 50% bracket, the deduction saves him $14,397 in 1986 taxes. Beginning in 1987 he pays income tax on the $5,000 per annum at his lower marginal rate. However, if the trust invests in tax-free bonds, he pays no tax on the trust income. After 9 years the principle reverts to Smith. For additioned information interested individuals are urg ed to attend the Nov. 9 Seminar or to call Marvin Bienstock at 366-5007. Eliminate the middleman. Lease your Jaguar through an authorized dealer. As an authorized Jaguar dealer we offer much more than a leasing agent. We are trans portation experts. With factory-trained technkians, a large p»arts inventory and many years of Jaguar experience, we are equipped to meet ycxir every motoring need. ENJOY TOMORROW. BUCKLE UP TODAY. CONTACT ELUOTTE LANDS OR SUSAN CAU SCOTT JAGUAR Tyvola at 1-77 Charlotte (704)527-7000 Joan Gordon This month’s Federation Volunteer of the Month has been an active member of the community for many years. A skilled business woman and leader, she has devoted herself in the past two months to Women’s Division and to three extremely important projects. Joan organized the Mini- Mission to the Blumenthal Jewish Home. This called for coordinating a bus, the schedule of the home, a VCR and tapes, printed materials, invitations. The trip attracted the leaders of the organiza tions and institutions who had the en route opportunity to leam about each other’s pro grams as well as about Women’s Division and the ’87 Campaign. Joan Gordon No sooner was the mini- mission over than Joan began to work on an Education even ing, Nov. 2, for Soviet Jewry. Again, she coordinated all the details including the ties bet ween that evening and the Women’s Plea For Soviet Jewry to be held Nov. 12. Thanks and congratulations to Joan Gordon, “Federation Volunteer of the Month.” Federation/UJA *87 Event Calendar Offers Wide Range Of Activities Thurs., Nov. 20 at SHALOM PARK: The 4th Annual Medical Community Dinner Speaker: Dr. Harold Horowitz Sat., Nov. 22 at SHALOM PARK: Men’s Major Gifts Dinner For Donors of $5000 + Guest Of Honor: Albert Segal Speaker: Professor Allen Pollack, Haifa University Mon., Nov. 24 at the home of Meg Goldstein: Women’s $365Event Thurs., Dec. 4 at SHALOM PARK: The 4th Annual Legal/Accounting Dinner Speaker: Winfred Ervin Sun., Dec. 14 at SHALOM PARK: Super Sunday Phona-A-Thon Soon To Be Scheduled Men’s $1000-f- Event Men’s $500-i- Event Women’s $100+ Event Men’s/Women’s Worker Thank You Party Bush and Peres to Speak at CJF Annual Convention Vice President George Bush and Israeli Prime Minister Shimon Peres will be featured speakers at the 55th General Assembly of the Council of Jewish Federations, to be held Nov. 12-16, at the Hyatt Regency Hotel in Chicago. Over 3,000 Jewish community leaders from throughout North America are expected to attend. Those attending from Charlotte are: Ron Katz, Vicki Hopkins, Dr. Paul Put- terman, Phil Joffe, Bobbi Bernstein, Sally Schrader. Harry Lerner, Marvin Bienstock. Rabbi Harold Schulweis will serve as scholar-in-residence, delivering a major address Thursday morning on the theme “Klal Yisrael — Challenges Facing North American Jewry in Balancing Unity and Diversity.” He will also give the summary state ment at the concluding plenary. In addition, Shoshana S. Cardin, President of the Coun cil of Jewish Federations, will deliver the Keynote Address on the Assembly theme “Klal Yisrael: Federation’s Role in Building Community” during the opening plenary Wednes day evening. The program will also feature a musical perfor mance, including chorales singing in Hebrew, Yiddish and Ladino to highlight the unity and diversity of the Jewish people. One exciting and innovative feature of this year’s General Assembly will be a live satellite appearance from Israel by Natan Shcharansky, who is unable to appear in per son because his wife, Avital, who addressed the Assembly on his behalf last year, is about to give birth. As part of the campaign^ to Summit II, an outdoor rally wiU take place in nearby Grant Park to protest the continued refusal of the Soviet Union to permit the vast majority of the refuseniks to emigrate. Other activities during the Assembly will include Jewish Expo ’86 — a repeat of the educational drop-in center organized by the Jewish Educational ^rvice of North America (JESNA) that proved to be so popular last year — and a special commemoration of the 100th anniversary of the birth of David Ben Gurion, featuring his grandson.
The Charlotte Jewish News (Charlotte, N.C.)
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Nov. 1, 1986, edition 1
8
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