A Fund in the Name of Your Family or to Honor a Loved One.
You can establish an endowment fund at the Foundation with a broad or specific purpose. Your fund can be in the name of your family, to honor or memoralize a loved one, or in honor of a special occasion. One of the Foundation's various fund types - unrestricted, restricted, philanthropic or an annuity- can meet the charitable goals of every member of our community.
Named Unrestricted Endowment Funds
You can establish an unrestricted endowment fund with a minimum gift of $1,000. An Unrestricted Fund allows the Foundation to meet the changing needs of the Jewish community and to apply resources to new programs and services as well as to emergency needs.
Named Restricted Endowment Funds
You can establish a restricted endowment fund with a minimum gift of $10,000 (payable in 5 years or less, or at death through a bequest). Your fund can aid identified programs, agencies, organizations, or initiatives (Jewish or not Jewish, in Greater New Haven, Israel or beyond) that are of particular interest to you and your family.
In the case of a restricted fund, the Jewish Foundation will distribute an amount equal to its spending policy (currently 5.5% of the total fair market value as of 12/31 of any given year but subject to change) annually to the charity or charities that you have designated.
Philanthropic Funds, often called donor advised funds, are an alternative to a private foundation because donors can make recommendations for distribution of income and principal from the fund to IRS-approved tax-exempt organizations. You can establish a Philanthropic Fund with a minimum gift of $10,000 (payable in 5 years or less, or at death through a bequest). A philanthropic fund does not adhere to the Foundation spending policy and you may distribute any amount to any charity of your choice as long as the balance in the fund does not fall below $10,000.
PACE, the Perpetual Annual Campaign Endowment.
A Perpetual Annual Campaign Endowment (PACE) is a permanent fund held by the Foundation for the Jewish Federation. Contributions to a PACE Fund can be made either to a donor's named PACE Fund ($10,000 minimum) or to the Jewish Foundation PACE Fund ($1800 minimum). The income from these restricted funds ensure that contributions to the UJA Federation's Annual Campaign will be made, in perpetuity, in your name.
LOJE, the Lion of Judah Endowment
The Lion of Judah Endowment, or LOJE, is the endowment component of the Lion of Judah Major Gifts program (annual gifts to the Federation Campaign of $5,000 or greater). Any woman can establish a LOJE by contributing $100,000 or more to ensure an annual distribution of $5000 or more to the Federation Annual Campaign (Lion of Judah level), in perpetuity.
How To Fund Your LOJE or PACE Gift
If you make a gift to your LOJE or PACE during your lifetime, you receive a charitable income tax deduction. You can also endow your LOJE or PACE through a bequest in your Will which will be deductible from your taxable estate. You can also fund your LOJE or PACE with life insurance, payable at your death to the Foundation. If such insurance is owned by the Foundation and the Foundation is the beneficiary of the insurance, your premium payments for the insurance will be income tax deductible.
Different ways to fund your LOJE or PACE are:
Funding your PACE or LOJE, during your lifetime, with a gift of appreciated property, such as securities or real estate, affords you the opportunity to eliminate the income tax on the long-term capital gain and will, in some instances, generate a full income tax charitable deduction and will remove those assets from your estate for estate tax purposes.
Of course, you may add to your fund at any time, in order to develop a larger permanent gift.