Planned Giving

 

Legacy donors are kind and caring individuals like you who are making a promise to future generations for a thriving and sustainable Jewish community in Ottawa.

By leaving a legacy gift of any size to our beloved shul, you’re expressing the values instilled in you by your parents and grandparents about what it means to live a meaningful Jewish life.

Why Life & Legacy?

KBI is proud to be participating in this community-wide legacy giving initiative that will strengthen and sustain our Jewish community for generations to come. Through the Life & Legacy program, your gift goes into a permanent endowment fund for the benefit of KBI—you can choose to include other cherished organizations as well.

Why consider a legacy gift for KBI?

Leave your community as strong as its roots: A gift in your Will for KBI means your care, compassion, and commitment to Jewish traditions carry forward for future generations. Even a gift of 5% will make a real difference to KBI’s programs and services.

Amplify your impact: After your lifetime, it’s possible to make a more significant gift than you might otherwise be able to afford.

Enjoy tax benefits: By including charitable gifts in your estate planning, you may eliminate significant taxes payable after your lifetime.

How do I participate?

All of us, regardless of age, wealth, or affiliation, have the ability to leave a legacy. Whether you choose to leave a percentage gift, the residual of an estate, or another vehicle for your legacy gift (See our “Ways of Giving” guide below), you can take care of your loved ones and also ensure that your values will carry on in our community.

It’s simple!

  • Reflect on your Jewish passions.
  • Have a conversation with a member of KBI’s Life & Legacy team.
  • Fill out a Letter of Intent form.
  • Formalize your commitment. *
  • Complete a bequest provision for the benefit of Kehillat Beth Israel’s Life & Legacy Fund.

*Have a conversation with your lawyer, accountant, or another professional advisor to determine how best to achieve your legacy giving goals. (Please note that there was new legislation released in Ontario recently to accommodate the signing of Wills while self-isolating. Also, keep in mind there are some gifts that don’t require a lawyer. See Legacy myth #3 below.)

If you would like to learn more about the Life and Legacy initiative or to speak to someone from our Legacy Team, please contact Elisheva Brantz at 613.728.3501 or by email.

If you have chosen to include KBI in your Will, please let us know. We would love to thank you personally.

Your KBI Life & Legacy Team

KBI has established a team comprised of congregants who are passionate about our synagogue and want to ensure that your love and devotion to the community continues to make a difference long into the future.

  • Howard Cohen is a past president of KBI and the leader of KBI’s Life and Legacy team.

“Throughout my life in Ottawa, Kehillat Beth Israel has been there for me, from celebrating the joyous B’nai mitzvot of my three children to comforting me during the passing of close family members. That’s what our synagogue is all about—people caring for each other. I am making a bequest to the Life and Legacy fund to ensure that the gift of community and comfort continues into the future for all of our grandchildren.”

  • Norm Ferkin is KBI’s volunteer Gabbai Rishon.

“I have benefited greatly from our community and I get a lot of satisfaction from giving congregants opportunities to participate in our services and enhance their religious experiences. I made a commitment to the KBI Life & Legacy campaign to ensure future generations benefit from belonging to one of the oldest and most vibrant conservative synagogues in the region.”

  • Bernard Shinder is a tax lawyer who was one of the founders and president of the Ottawa Jewish Community Foundation.

“I’ve been a member of KBI since 1961. I want to ensure that our synagogue and Jewish community continues to be robust well into the future. Giving a gift to KBI in a will is a gift that gives forever.”  

  • Harvey Slack is a member of the KBI Board of Directors.

As immigrants from Russia, my grandparents, parents, and relatives instilled in me the importance of community, worship, learning, and caring for those in need.  Now as part of the KBI family, I am leaving a legacy gift so that these things I value are sustained for future generations.”

More Resources:

For more information about the Life & Legacy initiative, explore these resources:

Importance of Professional Advice

We strongly recommend you consult your own lawyer or another professional advisor about the applicability to your situation.

What does my advisor need to know?

Here is some information that may be helpful:

  • Our legal name is Kehillat Beth Israel Congregation
  • Our charitable registration number is: 131168874 RR 0001
  • Our address is 1400 Coldrey Avenue, Ottawa ON K1Z 7P9
  • Any gift left to KBI in a Will becomes part of Life & Legacy fund unless otherwise specified.

Ways of Giving

How can you plan a gift to KBI to help ensure your lasting legacy in our community? You have several options and each one has its own set of unique tax advantages. Here’s a brief overview but please talk to your professional advisor to find out more.

Ways to Make a Gift How It Works Your Options
WillsBequests are gifts that are made as part of a Will. Choosing to make a charitable bequest allows you to enjoy the use of your assets while you are alive, knowing that KBI will benefit in your Will.A bequest can be as simple as a sentence or two naming KBI in your Will or adding a codicil to your existing Will.

Fixed Amount:  You specify the dollar amount that KBI will receive. This type of bequest is known as a “specific gift.”

A portion of your assets: KBI receives a specified percentage of your estate (e.g. 5%). The advantage of a percentage is that it keeps your gift in line with the value of your assets as they change.

Residual:  KBI receives what is left of your estate after all non-charitable gifts, expenses and debts have been paid.

A tax receipt for the value of the gift will be issued to your estate and applied toward the final income tax return.

Registered Retirement PlansMaking KBI a beneficiary of your existing Registered Retirement Savings Plan (RRSP) or Registered Retirement Income Fund (RRIF) is a simple, flexible way to give to KBI while enjoying tax benefits.You do not require a lawyer. You can designate KBI as a full or partial beneficiary on a “beneficiary change” form. You can also nominate multiple beneficiaries so that you ensure loved ones are cared for while also providing a donation to KBI.  You can specify percentages for each beneficiary. A tax receipt for the value of the gift to KBI will be issued to your estate and applied toward the final income tax return.
Life Insurance PoliciesDonating your life insurance is one of the easiest ways to make a significant impact on KBI’s future with a relatively small gift today. At the same time, you’ll be rewarded for your generosity through the charitable tax receipts you receive.

 

Here are 3 ways to donate:

Take out a new policy in the name of KBI. You’ll receive a charitable tax receipt for the cash value of the policy and for any premiums you pay.

Name KBI as the beneficiary of an existing policy. This is a good option if you already have a policy that your family no longer needs for financial stability. When the time comes, KBI will receive the policy proceeds and your estate will receive the tax benefits.

Transfer ownership of an existing policy to KBI and receive a charitable tax receipt for the cash value of the policy. If you owe annual premiums on the policy, you’ll still pay them, but you’ll also receive tax receipts in the amount of your payments.

AnnuityDesignating KBI as a beneficiary allows you to make a significant charitable gift while still receiving the income generated by your assets.Charitable gift annuity – You can designate KBI as a full or partial beneficiary by contacting your agent, broker or financial institution. You can also nominate multiple beneficiaries so that you ensure loved ones are cared for while also providing a donation to KBI.
 

Investment Account

Designating KBI as a beneficiary of your investment account allows you to donate the value of stocks, mutual funds or other types of securities to KBI. Your estate will receive important tax advantages.Designate KBI as a full or partial beneficiary – you can do this by contacting your broker or financial institution. You can also nominate multiple beneficiaries so that you ensure loved ones are cared for while also providing a donation to KBI. Your estate will receive a tax receipt for the value of the gift and will not be required to pay capital gains taxes on the increases in stock and fund values.

TOP 5 Legacy Giving Myths

  1. I already give money annually. Thank you so much! Regular giving is an important part of how non-profits keep their doors open. But what happens to the organization you have supported when you are no longer here to make that gift? A legacy gift can help ensure that your support continues.
  2. Only seniors can leave a legacy gift. Seniors are an important and influential group, but any person—no matter their age—can support the causes and organizations they cherish after they are gone. If you have assets, you’ll want to be the one to decide how they should be divided… at any age.
  3. I will need to hire a lawyer. There are many Legacy gift vehicles that don’t require hiring an attorney. Consider making your favorite non-profit a beneficiary of a portion of your life insurance policy or retirement fund. This change can usually be made with a single phone call and a signature, no attorney necessary.
  4. My children are getting all my money. Every parent wants to make sure their children are financially secure. Consider leaving just a portion of your estate to charitable causes. A gift like this will leave your children with both financial support and an ethical lesson in the importance of building a better world.
  5. I have to be a millionaire to leave a legacy. The beauty of legacy giving is that you can make a gift of any amount of your estate. Whether your estate is worth a few shekels or a few billion, your gift is your legacy. And your legacy should live on!

Sustain the synagogue life you treasure with a gift to KBI in your Will, retirement account, or life insurance policy.

Please contact Elisheva Brantz at 613.728.3501 ext. 225 or by email if you would like to discuss legacy or planned giving.