Renewal Project Updates (almost as they happen)
Pledging to our Renewal Project is such a wonderful thing for so many reasons. Ensuring our vibrant and welcoming Jewish home at 1950 Bathurst St., for your family now and for generations to come, is the clear benefit. But from a financial point of view, your donation can also be surprisingly tax efficient.
Pledges are not only payable over a number of years but also qualify for federal and provincial tax credits, making the out-of-pocket expenses far less than the actual amount of the gift.
“People are generally surprised when I tell them that a gift of $100,000 is actually an out-of-pocket expense of $935 a month for 5 years. We recognize that’s still a significant amount of money, but it’s far more manageable for our members to consider,” says our Director of Development, Jonathan Ain.
Jonathan also reminds congregants that fulfilling pledges by donating publicly traded securities, such as shares, bonds and mutual fund units, is simple—and offers immediate additional financial advantages such as the elimination of capital gains taxes.