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Endowments are permanent funds in your client's name or in
the name of someone your client wishes to honor or remember.
Each year the fund will produce income, and your client can
specify how the spendable portion of the fund should be used—for
unrestricted use by the Jewish community, or to support a
specific cause such as scholarships at Jewish educational
institutions; programs at Jewish Community Centers; cash grants
to meet the essential needs of the Jewish poor, or rescue
and resettlement efforts in Israel, the former Soviet Union
and other countries around the world.
Establishing a named endowment
An irrevocable gift of cash, securities, or other property
can be used to establish a fund. Other assets used to create
an endowment include life insurance, charitable remainder
trusts, charitable gift annuities, and retirement accounts
(e.g., IRAs). And, your client has the option of establishing
a named endowment fund either during lifetime or through his
or her estate plan.
Benefits
This type of gift offers many benefits. If the donor gives
during his her lifetime, he or she will receive a charitable
income tax deduction; if a gift is made through his or her
estate plan, it is the estate that receives a deduction.
Perhaps most important, however, is the enduring nature of
a gift of a Named Endowment Fund. Your client may use the
fund to honor or remember a loved one, and the fund will perpetuate
the family name.
The permanent legacy created will provide a necessary source
of unrestricted funds to help meet the current critical needs
of the community. Or, the endowment may provide permanent
resources to aid identified programs, projects, agencies,
organizations, or initiatives that are of particular interest
to your client and his or her family.
At a glance
- May be created now or through your client's estate plan
- Offers tax benefits for your client or his or her estate
- May be created with a variety of assets
- Provides permanent resources for organizations your client
wishes to support
More...
>> Community organizations
that are designated beneficiaries of Foundation funds ("Grantee
Center" section)
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