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The Jewish Transcript
Seattle, Washington
November 6, 1986     The Jewish Transcript
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November 6, 1986
 

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How the Endowmcn Fund Works l, uach, m,,dieva/ ca/,'ndar In some respects the Endowment Fund resembles an association of separate funds which have combined to support many different charities in Seattle and throughout the world. Donors of such funds can gain the immediate tax benefits of the gift which they donate to establish the fund as well as the tax benefits of additional gifts which they may subsequently add to the fund. These donors then have the privilege of recommend- ing to the Board of the Endowment Fund grants to charities which they feel deserve to be supported from the income generated by the Funds which they established. All recommendations are subject to approval by the Board. Donors of such funds are freed from the burden of day to day management of the fund. This is the responsibility of the Endowment Fund's professional staff under the guidance of experienced and devoted community leaders. These responsibilities include: accounting and financial reporting preparation of other reports scheduling meetings of Trustees, issuing notices, recording minutes for each Supporting Foundation investigation of the agencies which seek grants and verification of their tax exempt status expert review of programs for which support is sought issuing payment for approved grants obtaining verification of payment from grant beneficiaries listing the grants made from each Fund in the annual Endowment Fund Report An Outrz[ght G//? You may make a gift of money or property to the Jewish Federation to initiate an endowment to which additional sums may be added from time to time by you, your family or by friends. A &'mph" Bequest You may add a simple codicil to your will to provide a bequest to the Endowment Fund of the Jewish Federation. The Endowment Fund recommends that you consult your attorney and your accountant. The following sample codicil is provided only as an example: "I give and bequeath $ (or specified property) to the Endowment Fund of the Jewish Federation of Greater Seattle." A PhzTanthropic Fund You may establish a Philanthropic Fund to be maintained as a component of the Endowment Fund. This can be done by a gift of money or property. You will have the privilege of recommending grants to appropriate charities which are subject to approval by the Board of Directors of Federation. You may designate the name of the Fund. A Supporting I@mdatlbn You may establish a Supporting Foundation in your name or in the name of your family. It will be affiliated with the Jewish Federation. Your Foundation will be managed by a separate Board of Trustees which will guide its investment policies and consider the charities to support. A Char/tabh" Remm)u/er Trust You may establish a fund in your name or that of your family by setting up one of several types of remainder trusts. You can tailor your trust to meet your own estate planning goals and the needs of your beneficiaries. This enables you to set aside an asset and continue to receive income from the asset during your lifetime (and the income may continue on for the life of an additional beneficiary, such as your spouse). Upon termination of the trust the remaining principal reverts to the Endowment Fund. A Life Insurance Poh'cy You may designate the Federation Endowment Fund as the beneficiary of insurance on your life. If you assign the policy to the Fund during your life, there are significant tax benefits. The premium payments are income tax deductible if Federation owns the policy or is named irrevocable beneficiary and you do not reserve the right to surrender the policy for cash. The woodcuts which iUustrate this Endowment Fund Report are drawn from several sources including old Passover Haggadot and books which explain Jewish customs, such as Sefer Minhagim printed in Amsterdam in 1742. M.S. Bh,ssing the Shabbat Lamp To Join the Company of Endowment Fund Donors t is not difficult or complicated to .become a donor to the Endow- ment Fund. You may do this by donating a lifetime gift to establish a perpetual fund in your name or you may leave a bequest in your will. Some of the charitable vehi- cles for doing this are described below. Numerous variations are available. Complete and return the Letter of Intent printed below and we will provide you with additional information. 1 I I I I I I I I i To the l:ndowment Fund: I I tradition of our Jewish faith, I want to aid future generations and help the Jewish ] In the Federation support our comnmnity's institutions. Therefore, | * [] I have made provision I I [] I will make provision soon I to be part of the Endowment Fund of the Jewish l:ederation of Greater Seattle throt,gh: [ I [] an outright gift to establish a family ftmd I [] a bequest or endowment provision in my will [] a life insurance policy This is not a legal obligation anti may be changed by me. Please send me more information. NA M E I ADI)RIS I)ATI: I I 1 The Endowment Fund is indebted to you for your cooperation and dedication. | I I l | I Return to: | I The Endowment Fund I I of the Jewish Federation I | of Greater Seattle ] I Suite 510, 1904 Third Ave. | | Seattle, WA 98101 | I Attention: Murray Shift, l)irector | | " I lIlIIIlIIlIlIIIlIIIIlIlIIIIlIJ TO GET MORE INFORMATION Discarding the Chametz before Pesach LETTER OF INTENT Your own personal participation in the Endowment Fund can begin when you complete and return the following form. It declares your inten- tion to make a contribution to the Endowment Fund. It creates no legal obligation for you or your heirs. It is a statement of your intention and a request for additional information.