When
you create a Named Endowment Fund, you are establishing a permanent
fund in your name or in the name of someone you wish to honor
or remember. Each year the fund will produce income, and you
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 in your name. Other assets
you may use to create your endowment include life insurance,
charitable remainder trusts, charitable gift annuities, and
retirement accounts (e.g., IRAs). And, you have the
option of establishing a named endowment fund either during
your lifetime or through your estate plan.
Benefits
This type of gift offers many benefits. If you give during
your lifetime, you will receive a charitable income tax deduction;
if you make the gift through your estate plan, it is your
estate that receives a deduction.
Perhaps the most important benefit, however, is the enduring
nature of a gift of a Named Endowment Fund. You may use the
fund to honor or remember a loved one, and the fund will perpetuate
your family name long beyond your lifetime.
The permanent legacy you create will provide a source of
unrestricted funds to help meet the current critical needs
of the community. Or, the endowment you establish may provide
permanent resources to aid identified programs, projects,
agencies, organizations, or initiatives that are of particular
interest to you and your family.
At a glance
- May be created now or through your estate plan
- Offers tax benefits for you or your estate
- May be created with a variety of assets
- Provides permanent resources for organizations you wish
to support
More...
>> Community organizations
that are designated beneficiaries of Foundation funds ("Grantee
Center" section)
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