The following is a reprint of the JCF's Money Matters column, published in the September 4, 2024 issue of the Jewish Community Voice, titled, "JCF works closely with local synagogues and congregants":
With the High Holy Days hovering on the horizon, let’s explore how the Jewish Community Foundation, Inc. works closely with synagogues and their congregants in Southern New Jersey, with a focus on these seven areas:
• Life & Legacy: If you love your synagogue and want to see it thrive for future generations, a legacy gift is one of the best ways you can lend your support. Optimal vehicles to consider for creating your after-lifetime gift include your estate plan, IRA, or life insurance policy. It can be easy to do and can cost nothing during your lifetime. The Life & Legacy initiative of the Harold Grinspoon Foundation has helped secure millions of dollars in future endowment assets locally, and we invite you to join in this groundbreaking movement–or thank you if you already have made a legacy commitment. Your synagogue’s legacy team will be happy to discuss this opportunity in more detail. Learn more: jcfsnj.org/life-legacy
• Endowment Funds: A complementary topic to Life & Legacy is that when leaving a legacy gift, your contribution will be added to an endowment fund with the JCF to benefit your synagogue, or you can even establish a named endowment fund that provides funding for a specific aspect of the synagogue’s offerings. When doing so, your gift is professionally invested by the JCF to grow and spin off a 5% payout every year for many decades on end to ensure your synagogue’s bright future. Many donors opt to give towards endowment funds during their lifetime as well, to see the impact of their donation immediately: jcfsnj.org/endowment-funds
• JCF Grants: Each spring and fall, synagogues may apply for JCF grants to fund new and innovative programs and services. The deadline to apply for the Fall 2024 JCF Grants Cycle is October 30. Up to $5,000 may be awarded per request, with a total of over $45,000 available: jcfsnj.org/grants
• Donor Advised Funds: If you pay synagogue dues and donate to any nonprofits throughout the year, a donor advised fund (DAF) with the JCF is likely a no-brainer for you to consider. A DAF operates as an online charitable giving account where you contribute to your fund, earn immediate tax benefits, and recommend grants (including synagogue dues) from the fund at any future time: jcfsnj.org/daf
• B’nai Tzedek Funds (BTF): Similar to a DAF, a BTF is designed for children under 18 to get engaged in philanthropy. Perhaps a 13-year-old you know is having their bar or bat mitzvah, and, as a way to honor this simcha, loved ones can contribute directly into the BTF so that the child (with a parent’s or guardian’s assistance) can support their favorite charitable causes through the fund: jcfsnj.org/btf
• Reserve Funds: Several synagogues have established reserve funds with the JCF, to set aside dollars in the event of a future need. These funds can be invested and provide timely assistance to the synagogue for a capital expense, emergency, or other scenario.
• Gift of Israel: A savvy way to help pay for a child’s future trip to Israel is by enrolling them in the Gift of Israel program as early as kindergarten. Annually, you can deposit from $100 to $250, and the JCF invests contributions into the synagogue’s Gift of Israel fund. Your contribution will be matched by the Jewish Federation of Southern New Jersey and your synagogue: jewishsouthjersey.org/goi/
On behalf of the entire Board of Trustees and staff of the JCF, we welcome the chance to work with you and all of our local synagogues in the New Year and beyond.
Please contact me at dsnyder@jfedsnj.org if you have any questions about any of these topics.
Comments