The Shalom Center Endowment is a long-term commitment to the community and our donors with the goal to create a financial bedrock for the organization.
Shalom Center endowment was established under the umbrella of the Kenosha Community Foundation as an “Organization Endowment Fund”.
An Organization Endowment Fund allows a donor to provide a perpetual source of income to support the Shalom Center. Only investment earnings from the fund can be distributed to the Shalom Center. The principal gift must remain invested for long-term support.
Note: Donors are eligible for a tax deduction in the year the gift is made, to the full extent allowed by law. The type of gift determines the tax benefits that accompany it. Please consult your financial, accounting or tax professional for details.
Ways to give to our endowment
Shalom Center endowment accepts a wide variety of gifts/donations including cash, stocks, securities, estate gifts, mutual funds, distributions from IRAs or other retirement plan assets, real estate and life insurance policies.
Cash gifts qualify as a charitable contribution for federal income tax purposes and may be deducted up to 50% of adjusted gross income. Donors may carry forward for five (5) years any excess deductions.
By transferring appreciated securities to the Foundation, donors can avoid capital gains tax and still get a charitable deduction for the full market value of the securities. Gifts of appreciated securities are deductible up to 30% of adjusted gross income.
Gifts of appreciated real estate may be deducted under the same rules as appreciated securities. You may give your residence and retain the right to live there for the remainder of your life.
Donors may make an outright gift to the Endowment in their will or they may establish a trust that will pay income to your family for their lives with the remainder of the trust payable to the Endowment. The Shalom Endowment can be made the beneficiary of your retirement plan or named as beneficiary of life insurance.
There are forms of living trusts that can be used as a part of an overall estate plan that will provide for donors, their families, and the Shalom Center Endowment.