Partnership Life Annuity Program

Temple Beth David has embarked on a partnership with the Jewish Community Foundation, the Partnership Life Annuity Program, to build endowment funds for the Temple.  Endowment funds are not for general operating expenses of the Temple, but are there to assure the continued existence and vitality of the Temple for our children and grandchildren.

Here is an overview of how a charitable gift annuity through the Partnership Life Annuity program works for you and the Temple:

• With a gift of $10,000 or more, you are guaranteed an income for your life, or the combined lives of you and another person. The annual payment rate to you depends on your age. The older you are the higher the payment. Some examples: a single person aged 75 would receive 7.3% for the rest of his/her life; a couple aged 75 and 80 would receive 6.8% for the rest of both of their lives.

• You receive an income tax deduction when you make the gift, and much of the income paid to you is tax free.

• Your gift may be in cash or other assets. If the gift is assets that have appreciated over their tax basis, there may be significant income tax advantages. In some cases there may also be savings in estate taxes.

• At your death, approximately 95% of the remaining money is set aside for Temple Beth David in two ways. First, Temple Beth David can elect to up to 20% in cash. Second, the remainder becomes an endowment fund which pays the Temple 5% per year indefinitely.

At this time of very low yields on bank CDs and comparable safe investments, the payout rates are very attractive.  Please contact us for a quote based on your specific age(s). We may be reached by telephone as listed below.

Please call the Temple Office for more information