The following is a reprint of the JCF's Money Matters column, published in the October 2, 2024 issue of the Jewish Community Voice, titled, "Your legacy gift can ensure our community’s future":
The success, vibrancy, and continuity of our Southern New Jersey Jewish community would not be possible without the support of generous individuals like you. When you donate annually to local Jewish organizations such as the Jewish Federation of Southern New Jersey and its family of agencies, synagogues, or day schools, you are contributing to the wellbeing of countless others. But what about perpetuating your annual gift for future generations?
In 2014, the Harold Grinspoon Foundation (HGF) selected our community to participate in its Life & Legacy initiative to grow legacy gifts, which, in turn, would boost endowment funds that provide annual income to over 20 local Jewish organizations. The Jewish Community Foundation, Inc. proudly spearheads Life & Legacy locally, sponsored by SEI.
This groundbreaking Life & Legacy concept unveiled a sobering reality: Nonprofit organizations across the country–universities, hospitals, or any other important and deserving entity were succeeding in encouraging legacy gifts from donors, but, by and large, Jewish organizations were way behind in securing their future because they were not asking for legacy gifts like secular organizations were.
Fast forward 10 years, and, thankfully, Life & Legacy has inspired more than 600 community members to leave a legacy gift to at least one SNJ Jewish organization, and more than 32,000 have done so nationally. But we’re not done yet, and we need your help to keep this momentum going. Let’s look at five ways you can get involved in securing our community’s future:
• Sign a Letter of Intent: This is step one to participate in Life & Legacy, and it’s incredibly easy. Simply fill out a few fields of information on a form (which can be downloaded at jcfsnj.org/life-legacy) and submit it to the organization(s) that you choose to receive a legacy gift after your lifetime. This form is not legally binding and can be updated at any time. Bonus: By submitting this form, you can earn your selected organization( s) an incentive of $50, thanks to HGF funding.
• Formalize Your Commitment: Next, you will enact your legacy plans. Leaving a legacy gift can be easy to do and even cost nothing during your lifetime, such as by leaving a gift (bequest) in your will or estate plans or updating your IRA or life insurance policy beneficiary designations. By doing so, you can earn a $100 incentive for your selected beneficiary(ies) from HGF. A great option for many is to leave a modest but meaningful percentage (such as 10%) to charity, and the rest to your loved ones. Please consult with your trusted advisor for estate, legal, or tax guidance.
• Contribute to an Existing JCF Endowment Fund: Though optional, your current gift in any amount to an existing endowment fund can support your selected organization(s) immediately. By donating to a fund, you will grow the amount available to help others annually, and this gift may qualify for a 10% match thanks to HGF.
• Join a Legacy Team: Organizations benefit from volunteers assisting with coordinating legacy giving. By joining a legacy team, you can utilize your unique skills to ensure a brighter future. The JCF and HGF provide ongoing support to help you.
• Encourage Others to Join You: By actively talking to fellow donors who give annually, you will be performing a true mitzvah of encouraging tzedakah that will benefit the community for many generations. You are sure to even gain a “helper’s high” by motivating others to be generous!
The JCF welcomes your Life & Legacy questions, please email Mike Staff at mstaff@jfedsnj.org or me at dsnyder@jfedsnj.org to learn more.
Thank you and Shanah Tovah!
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