It‘s never too early to think about how to leave your mark on the community and how you want to be remembered.
Each year by using disposable income charitably, people make an imprint on the Tidewater Jewish community. That choice is an investment—whether it is making an annual investment in synagogues or day schools or agencies or programs that are important to the donor. Leaving a legacy, or endowing charitable giving, can be considered your investment in the future of the Tidewater Jewish community.
Since everyone’s family and financial situation is unique, legacy gifts, of any size, can be designed to match individual circumstances. Options include a simple bequest in a will or trust; an outright gift using appreciated assets or cash; life insurance policies, IRA or pension funds; charitable remainder trusts and charitable gift annuities.
Tidewater Jewish Foundation recently debuted an exciting program that can help turn an annual charitable investment into a legacy gift benefitting the organizations of your choice. The LIFE & LEGACY program is a four-year capacity building partnership offered by TJF and the Harold Grinspoon Foundation that provides training, support, and monetary incentives to assist Jewish organizations in securing meaningful legacy gifts.
Legacy gifts can be used to educate children, care for the elderly, feed the hungry, strengthen Jewish identity, preserve Jewish culture and heritage, support synagogues, or protect and strengthen the State of Israel. One thing for certain, whatever their form, legacy gifts make a difference in the lives of future generations.
It is not necessary to be wealthy to participate in the LIFE & LEGACY program or to make a difference with a charitable investment. Melinda Gates once said, “Philanthropy is not about the money. It’s about using whatever resources you have at your fingertips and applying them to improving the world.” Just as you give annually to the United Jewish Federation of Tidewater, your synagogue and favorite charities, you can establish an endowment fund and designate one or more charitable organizations or purposes as perpetual beneficiaries of your gift.
All that is required is to make the decision to join the other members of the Tidewater Jewish community who have already made such a commitment to invest in the future.
Reaching the decision to create a legacy gift and make annual charitable investments in perpetuity can be thought of with simple math. It takes 25 times an annual gift or synagogue dues (at 4% interest) to sustain a current contribution. So, if you currently give $1,000 a year, you would want to leave at least $25,000 in your will, as a designated beneficiary in your IRA or life insurance policy, or other vehicle, to provide a $1,000 gift annually in your name forever.
All of us, regardless of age or wealth, have the ability to leave a legacy. A legacy gift of any size can be customized and structured to fit your family’s needs, your financial situation, your dreams and your lifestyle.
To learn more about participating in the LIFE & LEGACY program and making an investment in the future of the Tidewater Jewish community, contact Amy Weinstein, TJF’s director of development, at 757-965- 6105 or aweinstein@ujft.org. Visit www. jewishva.org/tjf-lifeandlegacy for information about the new initiative.